- Walmart Inc (NYSE:WMT) has agreed to acquire e-grocery fulfillment automation company Alert Innovation. The financial terms were not disclosed.
- Alert Innovation has been working with Walmart to customize the technology for market fulfillment centers (MFCs) since 2016.
- Alert Innovation began piloting the Alphabot System in Walmart’s first MFC in Salem, New Hampshire, in 2019.
- The company held $13.9 billion in cash and equivalents as of July 31, 2022.
- “Bringing the best of Alert’s technology and capabilities in-house will enable us to reach more customers quicker by deploying MFCs with greater speed, providing both an unmatched shopping experience and a competitive advantage in omnichannel fulfillment,” said David Guggina, SVP of Innovation and Automation, Walmart U.S.
- Alert Innovation will continue to operate under the Alert Innovation brand based in the Boston area.
- Also Read: Walmart Strategically Times Its Holiday Sales Event To Win More Shoppers From Amazon
- Price Action: WMT shares are trading higher by 0.04% at $132.98 on the last check Thursday.
- Photo Via Company
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