SEOUL, Jan. 8 (Korea Bizwire) — 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.