Blackstone invests in South Korean robotics supplier Futronic

Blackstone ​has invested in Futronic, a supplier of high-precision actuators ‌serving automotive and industrial robotics sectors, the world’s largest alternative asset manager ‌said on Monday.

The deal values the South Korean firm at about ⁠1 trillion won ($676.04 million), according to a person with knowledge of the matter.

Blackstone and ⁠Futronic did not immediately respond to requests for comment.

Here ​are a few details: * Blackstone said ‌that private equity funds affiliated ‌with the ‌alternative investment firm have ‌entered into a definitive agreement ​to make a significant investment ⁠in Futronic.

* Futronic’s founder Jin-ho Ko will remain in his role ⁠as chairman and ​chief ⁠executive officer and work with Blackstone to accelerate ​the company’s global growth and end-market expansion.

* Blackstone “will help ⁠drive our expansion and ⁠solidify ⁠our leadership ‌in actuation and motion control solutions,” the founder said. (Reuters)

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