In first Israeli acquisition, Walmart purchases start-up Aspectiva
American retail giant Walmart has acquired Tel Aviv-based product review start-up Aspectiva for an undisclosed sum, the corporation announced on Tuesday.
The company, Walmart’s first acquisition in Israel, will join Walmart’s “Store No. 8” incubation arm but will continue to operate from its Tel Aviv offices under the agreement.
“As the lead investor in the company, we’re thrilled that Walmart has chosen to acquire Aspectiva, a portfolio company of JVP, founded and grown in our JVP Labs in Jerusalem,” JVP said. “We are proud of our JVP Partner and Aspectiva board member, Haim Kopans, who has been leading the company since inception until its successful acquisition today. We believe that this will bring new jobs and opportunities to Israel and serve as an additional example of how Israeli innovation is helping shape our world, by bringing together disruptive technologies and key global markets.” While the deal represents Walmart’s first acquisition in Israel, the Arkansas-headquartered retailer has been becoming increasingly active in the country in recent months. In October 2018, Walmart announced a strategic investment in cybersecurity venture platform Team8 and also set up a joint venture with Tel Aviv interactive video firm Eko. It has also recently joined The Bridge, a technology accelerator connecting global companies with the hi-tech start-up community in Israel.