Walmart: plans to acquire the assets of Art.com

(CercleFinance.com) - Walmart said that it plans to acquire art and poster retailer Art.
com's assets - including its catalog, intellectual property, trade name, and US operations - for an undisclosed amount.

In a statement, Walmart said art and wall decor represents a 10 billion-dollar annual market in the US.

The US giant plans to operate Art.com as a standalone and complementary site. The group already operates websites such as Walmart.com, Jet.com, and Hayneedle.com.

The deal is expected to close early next year.

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