Symbotic completes acquisition of Walmart's robotics unit; signs deal for 400 APDs with up to $520M R&D funding

Symbotic Inc.

Acquired Walmart's Advanced Systems & Robotics business; Walmart pays $520M in R&D fees ($230M at close, $165M in year 1, $125M in year 2).
Commercial agreement commits Walmart to purchase 400 APD systems (option for 200 more) if performance metrics are met.
Transaction could increase Symbotic's backlog by >$5B and expands addressable market by >$300B in the U.S.
Walmart gets board nomination rights while owning >5% equity; Symbotic must provide most-favored-customer pricing.
Commercial agreement has 12-year initial term; Walmart can terminate for unmet performance or change of control.

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