Ghost Robotics Corporation and LIG Nex1 Announce Close of Acquisition

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Jul 28, 2024, 20:00 ET

LIG Nex1 will have a controlling stake in Ghost Robotics

PHILADELPHIA and SEOUL, South Korea, July 29, 2024 /PRNewswire/ -- Ghost Robotics, a leading innovator in legged robotics, and LIG Nex1, a premier South Korean defense technology company, are pleased to announce the close of a strategic partnership through LIG Nex1's control-stake acquisition of Ghost Robotics. LIG Nex1 has acquired a 60% control-stake in Ghost Robotics for $240 million USD, valuing the company at $400 million USD.

This partnership marks a significant milestone for both companies as they combine their expertise and resources to advance the field of autonomous robotic solutions. The acquisition will enable Ghost Robotics to leverage LIG Nex1's extensive experience and capabilities in defense technology and manufacturing to further accelerate scaling.

"We are thrilled to partner with LIG Nex1 and embark on this exciting new chapter for Ghost Robotics," said Gavin Kenneally, PhD, Co-founder & CEO of Ghost Robotics. "Their investment and strategic guidance will accelerate our growth and enhance our ability to deliver groundbreaking robotic solutions to a wider range of industries and applications."

LIG Nex1's CEO, Shin IckHyun, echoed the enthusiasm, stating, "Our acquisition of a majority stake in Ghost Robotics aligns perfectly with our vision to lead the future of defense and security technology." He added, "We expect this acquisition will serve as momentum for both companies to grow together based on our leading-edge technological capabilities and close cooperation."

This partial acquisition will foster innovation and drive the development of next-generation robotic systems for both industrial and defense markets. By combining their strengths, Ghost Robotics and LIG Nex1 are well-positioned to lead the industry in delivering robust, versatile, and reliable robotic solutions.

About Ghost Robotics
Founded in 2015, Philadelphia-based Ghost Robotics develops Quadrupedal Unmanned Ground Vehicles, or Q-UGV^® for short. Ghost's Q-UGVs not only manage unstructured terrain well but are built for demanding customers in demanding environments. Their robots have a place in a broad range of government and enterprise applications where mobile robots with four legs have inherent advantages over wheels, tracks and even bipedal systems. To learn more about Ghost Robotics, visit www.ghostrobotics.io.

About LIG Nex1
LIG Nex1 is a leading defense technology company based in South Korea, specializing in advanced weapon systems, electronics, and communication solutions. With a commitment to innovation and excellence, LIG Nex1 is dedicated to providing world-class defense and security technologies.

For more information, please contact:

Ghost Robotics Marketing and Communications
Email: [email protected]

Website: www.ghostrobotics.io

LIG Nex1 Public Relations Department
Email: [email protected]

Website: www.lignex1.com

SOURCE Ghost Robotics