Symbotic's financial statements or investor reports detailing backlog increases

Symbotic Acquires Walmart's Robotics for $200M, to Deploy A.I. in 400 APDs

Jan 16, 2025, 02:06 PM

Symbotic Inc. has agreed to acquire Walmart's Advanced Systems and Robotics business for $200 million in cash at closing, with the potential for up to $350 million in additional contingent payments based on future orders. The deal also includes a commercial agreement where Walmart will pay Symbotic $520 million for a development program to enhance its online pickup and delivery systems, with $230 million paid at closing. This acquisition expands Symbotic's long-standing partnership with Walmart, aiming to automate Walmart's Accelerated Pickup and Delivery centers (APDs) using A.I.-enabled robotics. Walmart has committed to deploying Symbotic's systems in 400 APDs over multiple years, supporting the growth of eCommerce and potentially increasing Symbotic's future backlog by over $5 billion and expanding its addressable market by more than $300 billion in the U.S. alone. The acquisition is expected to close in Symbotic's fiscal second quarter of 2025.