Amazon is to buy appliance medical chain, which is also owned by Walmart
Amazon is reportedly in talks to buy a US appliance medical retailer that has been owned by Wal-Mart for decades.
The Seattle-based company has been on a buying spree for a number of years and has been in talks with several other companies over the past year.
The acquisition, if completed, would be the first in a number that could include a number other retailers, including the New York-based grocer.
It would be worth $500m to Amazon, the company said.
The Amazon acquisition follows recent announcements from Wal-Marts CEO Ken Langone that the retailer will open more than 40 new stores in the US.
“Our focus has always been on providing our customers the best shopping experience, whether it’s a new product or a popular product, and that’s why we are investing in the most competitive markets,” Mr Langone said in an interview with CNBC.
“And I think that’s a part of our strategy moving forward, we want to compete with every other retailer on every corner.”
We have the ability to bring those kinds of innovations to our customers, we’re also excited about the future, the possibilities in the technology and services we are bringing to our shoppers.
“The move could be part of an expansion of the company’s strategy that could see it buy or acquire several smaller retailers.
Earlier this year, Amazon announced it was buying Whole Foods for $13.4bn.