Symbotic Completes Acquisition of Walmart's Advanced Systems and Robotics Business and Signs Related Commercial Agreement

Core Insights - Symbotic Inc. has completed the acquisition of the Advanced Systems and Robotics business from Walmart and signed a commercial agreement for automation systems development [1][2] - The partnership aims to enhance Walmart's online pickup and delivery services, with Walmart committing to a $520 million development program [2][3] - This transaction could increase Symbotic's future backlog by over $5 billion and expand its addressable market by more than $300 billion in the U.S. [3] Company Overview - Symbotic is a leader in A.I.-enabled robotics technology, focusing on transforming supply chain operations through advanced automation solutions [4] - The company aims to improve the efficiency and effectiveness of distribution challenges faced by major retail and wholesale companies [4]