The news is confirmed now that Walmart has definitively agreed to acquire e-commerce company Jet.com for US $3 billion in cash, a part of which will be paid in a staggered manner. This acquisition will give Walmart the leverage of e-com growth and wider customer reach. Walmart expects various benefits including reduction in prices, broadening of their services and take on competition stronger. The take-over is expected to be finalized by the year end.
Both Walmart and Jet have agreed to maintain their distinct brands where Walmart will focus on delivering their strategy – Everyday Low Price, while Jet will continue offering the clients ‘curated assortment’.
