Blackstone invests in South Korean robotics supplier Futronic

July 20 (Reuters) - ‌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.

($1 = 1,479.2000 ⁠won)

(Reporting by Sumedha ‌Mukherjee in ​Bengaluru and Kane Wu in Hong Kong; Editing by Sonia ‌Cheema)

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