Walmart completes Jet.com acquisition

The nation’s largest brick and mortar retailer said it has completed its $3 billion acquisition of Jet.com, which it plans to use to expand its growing e-commerce business.    Walmart said it has completed its $3 billion acquisition of Jet.com, which it plans to use to expand its growing e-commerce business.
   “Walmart.com and Jet.com will operate as separate brands, while leveraging technology and talent across both entities,” Walmart said in a statement.
   Marc Lore, founder and chief executive officer of Jet.com, has now joined Walmart as executive vice president and president and CEO of Walmart eCommerce in the United States. He will lead both Walmart.com and Jet.com.
   “I’ll be spending a lot of time with the team in the coming weeks and months focused on scaling Walmart.com and Jet.com, building on our solid foundations,” Lore said.