Symbotic set to take over Walmart’s robotics business

Quick Summary:

Walmart and Symbotic announced a deal Tuesday that would find the Massachusetts robotics firm taking control of the mega-retailer’s automation business.

Symbotic is paying $200 million in cash for the program, plus up to $350 million in "additional contingent consideration,” depending on how the deal shakes out.

Amazon’s recent attempt to purchase Massachusetts-based iRobot ultimately died on the vine due to international regulation, leaving the Roomba-maker in a financial hole.

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Article Details

Author / Journalist: Brian Heater

Category: Technology

Markets: United States

Topics: Hardware Fundraising Symbotic Walmart

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-16 @ 16:53:07 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 336 words

Reading Time: 2 minutes read

Sentences: 18 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 25198592

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