Symbotic announced Thursday it will acquire Walmart’s Advanced Systems and Robotics business unit. The two companies have partnered on Walmart’s automation systems since 2017. Symbotic will pay Walmart $200 million for the transaction, along with up to $350 million in additional future payments. The company will be tasked with building and deploying an automation system for Walmart’s accelerated pickup and delivery centers (APDs), which will help the retailer speed up the systems that power its in-store pickup and same-day home delivery services. Walmart will fund a development program to help Symbotic develop that technology; the retailer will pay the technology provider a total of $520 million for the development program. Greg Cathey, senior vice president of transformation and innovation at Walmart, said implementing Symbotic’s automated systems will give Walmart consumers a better, faster experience. “We’re excited about what this means for our customers. We anticipate the synergy between Symbotic’s expertise and our nearly decade-long relationship in innovating the supply chain technologies to elevate customer service and rapidly advance our in-store Accelerated Pickup and Delivery capabilities,” Cathey said in a statement.

Full report : Automation firm Symbotic to buy Walmart’s robotics business for $200 million.