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

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.

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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