BENTONVILLE, Ark. — Wal-Mart Stores here said Monday it has signed a definitive agreement to acquire Kosmix, Mountain View, Calif., the developers of a social media technology platform that filters and organizes content to connect people with real-time information.
The agreement, subject to customer closing conditions, is expected to close before the end of June, Wal-Mart said.
Kosmix will operate as part of the newly formed @WalmartLabs, which Wal-Mart said will create technologies and businesses around social and mobile commerce to support its global multi-channel strategy that integrates the shopping experience between bricks-and-mortar and e-commerce businesses in nine countries.
“Kosmix's innovative technology platform searches and analyzes connections in real-time data streams to deliver highly personalized insights to users,” Wal-Mart explained, using TweetBeat, a real-time social media filter for live events; Kosmix.com, a site to discover social content by topic; and RightHealth, a health and medical information site.
“Social networking and mobile applications are increasingly becoming a part of our customers’ day-to-day lives globally, influencing how they think about shopping," said Eduardo Castro-Wright, Wal-Mart vice chairman. "We are excited to have the Kosmix team to accelerate the development of our social and mobile commerce offerings.”