Symbotic, a leader in AI-enabled robotics technology for the supply chain, agreed to acquire Walmart’s Advanced Systems and Robotics business for a total consideration of $200 million in cash at close and up to $350 million in additional contingent consideration in future periods.
As part of the acquisition, the parties agreed to a commercial agreement under which Symbotic will engage in a development program funded by Walmart to develop, build and deploy an advanced solution that automates Walmart’s Accelerated Pickup and Delivery centers to enhance Walmart’s current online pickup and delivery fulfillment systems. The transaction and new agreements could increase Symbotic’s future backlog by more than $5 billion and adds a micro-fulfillment solution that expands its addressable market by more than $300 billion in the United States alone.
S&C previously advised Symbotic in multiple transactions, including its AI-focused warehouse joint venture with SoftBank in 2023 and its 2022 combination with SVF Investment Corp, an affiliate of SoftBank.
The S&C team advising Symbotic includes Matthew Goodman, Mimi Wu, Alex Bavis, Naiquan Zhang, Ishaan Kapur and Noah Springer. Bob Downes and John Karol provided valuable securities and capital markets advice. Nader Mousavi, Jay Thornton, Elianne Schiff and Patrick Ronan are advising on intellectual property matters. Jeannette Bander, Joyce Lee and Charlotte Lindsay are advising on executive compensation and employment matters. Isaac Wheeler, Tessa Lee and Brett Greene are advising on tax matters. Steven Holley, Samantha Hynes, Bradley Smith, Clea McClellan and Shane Palmer are advising on antitrust matters. Ryan Logan is advising on data privacy matters. Matt Brennan is advising on environmental matters.