Softbank, which is a Japanese multinational telecommunications and Internet corporation, has entered into a definitive agreement to acquire Boston Dynamics, a robotics pioneer, from Alphabet Inc.

According to SoftBank, the transaction “aligns with SoftBank's investments in paradigm-shifting technologies and its vision of catalyzing the next wave of smart robotics.”

“We at Boston Dynamics are excited to be part of SoftBank's bold vision and its position creating the next technology revolution, and we share SoftBank's belief that advances in technology should be for the benefit of humanity,” says Marc Raibert, CEO and founder of Boston Dynamics.

“We look forward to working with SoftBank in our mission to push the boundaries of what advanced robots can do and to create useful applications in a smarter and more connected world.”

Masayoshi Son, Chairman & CEO of SoftBank Group Corp., adds, “smart robotics are going to be a key driver of the next stage of the Information Revolution, and Marc and his team at Boston Dynamics are the clear technology leaders in advanced dynamic robots.”

“I am thrilled to welcome them to the SoftBank family and look forward to supporting them as they continue to advance the field of robotics and explore applications that can help make life easier, safer and more fulfilling.”

SoftBank has also agreed to acquire Schaft, a Japanese bipedal robotics company, as a part of the transaction with Alphabet.