Wal-Mart Stores has agreed to acquire social media company Kosmix Corp., the Bentonville, Ark.-based company said April 18. The retail giant will fold the Kosmix team into its newly formed @WalmartLabs division, which focuses on social and mobile commerce technologies.
Eduardo Castro-Wright, vice chairman of Wal-Mart Stores, said in a statement that the company will work with the Kosmix team “to accelerate the development of our social and mobile commerce offerings.”
Through the deal, Wal-Mart also acquires Kosmix’s “Social Genome” platform, which organizes social network content and creates profiles of users, products, places and other topics.
Wal-Mart said it expects the acquisition to be completed during the first half of this year.
Wal-Mart did not immediately return requests seeking comment. Kosmix referred requests for comment to Wal-Mart’s statement, a Wal-Mart representative and a blog post by Anand Rajaraman, Kosmix’s cofounder. Financial terms of the deal were not disclosed.