India, Jan. 28 -- Symbotic Inc. (SYM), an AI-enabled robotics technology, Tuesday announced that it has completed the acquisition of the advanced Systems and Robotics business from Walmart Inc. (WMT). In addition, it has signed an agreement for automation systems.
The acquisition deal and agreement could boost Symbotic's future backlog by over $5 billion and introduce a micro-fulfillment solution, expanding its U.S. market potential by more than $300 billion.
The deal includes a $520 million payment to Symbotic, with $230 million due upon completion of the Walmart Advanced Systems and Robotics acquisition.
The agreement is to develop and implement automation systems for Accelerated Pickup and Delivery centers at Walmart stores.
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