In separate actions the two largest retailers in the United States, Bentonville, AR-based Wal-Mart Stores Inc. and Kmart Corp., Troy, MI, will acquire the companies that had been set up as their independent online operations.
Wal-Mart will buy out the minority interest in Walmart.com from Accel Partners, a venture capital firm based in Palo Alto, CA. Terms of the purchase were not disclosed. Walmart.com will remain a separate business unit within Wal-Mart.
“While we remain as committed as ever to meeting the needs of our online customers, it is clear to us that the next evolution for Walmart.com is to establish an even deeper integration between our online business and the operations of our Wall-Mart stores,” Lee Scott, the chain
Network
