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Doosan Bobcat buys stake in U.S. radar maker Ainstein

Industry 11:46 January 08, 2021

By Nam Kwang-sik

SEOUL, Jan. 8 (Yonhap) -- South Korea's small-sized construction equipment maker Doosan Bobcat Co. said Friday that it has bought a stake in U.S. radar maker Ainstein.

Doosan Bobcat did not reveal the vale of the deal, or how much stake it bought in the U.S. company, citing a confidentiality agreement with the U.S. firm.

The stake purchase is a preemptive move to dominate the unmanned small-sized construction equipment market, which has been growing at a rapid pace, Doosan Bobcat said.

This photo, provided by Doosan Bobcat Inc. on June 18, 2020, shows the South Korean manufacturer of farm and construction equipment's compact tractor model CT4045. (PHOTO NOT FOR SALE) (Yonhap)

Ainstein, based in Kansas, offers a full radar system for drones and unmanned aerial vehicles (UAV).

Doosan Bocat has maintained strategic and cooperative relations with Ainstein since 2018.

In April, the two companies signed a deal to develop a radar sensor for construction equipment.

Doosan Bobcat said it commercialized the iOS-based remote control technology Max Control for construction equipment in 2019.

iOS is Apple's mobile operating system.

ksnam@yna.co.kr
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