LIG Nex1 completes acquisition of 60% stake in Ghost Robotics

LIG Nex1 (CEO Shin Ik-hyun) announced on the 29th that it had acquired a 60% stake in Ghost Robotics Corp., a leading U.S. quadruped robotics company led by CEO Gavin Kenneally, together with Korea Investment Private Equity (Korea Investment PE).

LIG Nex1 established acquisition vehicle LNGR LLC to pursue the deal and completed all investment procedures, including approval from the Committee on Foreign Investment in the United States (CFIUS), on July 26 local time. It secured a 60% stake worth approximately KRW 332 billion (about US$240 million) out of Ghost Robotics’ total equity value of KRW 554 billion (about US$400 million).

Founded in Philadelphia in 2015, Ghost Robotics is a quadruped robotics company recognized worldwide for its outstanding technological capabilities. Its flagship product, the Vision 60, boasts longer battery life than competing products and moves nimbly and naturally over uneven terrain, such as gravel and hills, as well as quickly through water. It can be equipped with mission-specific gear and features a modular design that allows individual components to be detached for rapid recovery and repair of damaged parts.

With its distinctive in-house technology, Ghost Robotics has export achievements and a global network spanning the United States, the United Kingdom, Japan and other markets, giving it significant growth potential.

Ghost Robotics co-founder and CEO Dr. Gavin Kenneally said, “I’m delighted to become part of LIG Nex1, a leading South Korean defense company. I hope Ghost Robotics’ future-focused technology and global vision will become a key driver accelerating LIG Nex1’s growth and prosperity in global markets.”

LIG Nex1 plans to establish a Collaboration Center in Washington, D.C., by the end of this year and prepare to enter the domestic and international robotics markets in earnest. The acquisition is expected to drive new innovation in a range of fields, including the combined manned-unmanned combat system being developed by the South Korean military, as well as search and rescue, fire monitoring and suppression, and guidance for people with disabilities.

LIG Nex1 CEO Shin Ik-hyun said, “LIG Nex1 and Ghost Robotics have a shared identity as R&D-centered companies, each with top-tier research talent and infrastructure in its respective field. Through this acquisition, we will combine our cutting-edge technologies to create synergies across defense and civilian markets, while opening up new and distinctive growth opportunities in global markets.”