From: GeekWire - Walmart confirms $3.3B acquisition: Here’s how they plan to take on Amazon
Walmart this morning announced an agreement to acquire for $3.3 billion in cash and stock, confirming widespread reports and uniting the companies in their common fight against e-commerce king The deal combines an ambitious e-commerce startup with a physical retail giant, both of whom have struggled to dent Amazon’s online business on their own. The companies will maintain their own brands but “leverage innovative technology solutions from both companies to develop new offerings to help customers save time and money,” they say in a news release. “The combination of Walmart’s retail expertise, purchasing scale, sourcing capabilities, distribution footprint, and digital assets – together with the… Read More