Wal-Mart acquires VR startup Spatialand
The technology arm of US grocery retail giant Wal-Mart has acquired virtual reality startup Spatialand in an attempt to drive the company's transformational efforts.
Spatialand has been purchased in the aim of revolutionising the customer experience of retail shopping in years to come, joining Wal-Mart's tech incubator, Store No. 8.
"The team will develop and explore new products and uses of VR through immersive retail environments that can be incorporated by all facets of Walmart, online and offline," said Store No. 8's Katie Finnegan.
Spatialand specialises in the creation of software tools that allows creators to transform content into virtual reality experiences. Previously, the company has worked collaboratively with Oculus, Intel and Reebok on this subject.
"Together, we will continue to evolve this technology and develop new product exploration through immersive retail environments," Finnegan continues.
Financial details of the deal were not disclosed by either company.
- Walmart Canada invests $175mn to modernise stores and create omnichannel experienceRetail
- Walmart unveils grocery-picking robots to fulfill online ordersRetail
- Walmart's Jet.com pushes for same-day grocery delivery in NYC with new fulfilment centreRetail
- Sainsbury's and Asda tie-up could create UK's biggest supermarket chainRetail