M&A Deal Summary

General Motors and Walmart Acquire Cruise Automation

On March 11, 2016, General Motors and Walmart acquired technology hardware company Cruise Automation for 1.0B USD

Acquisition Highlights
  • This is General Motors’ 1st and Walmart’s 1st transaction in the Technology Hardware sector.
  • This is General Motors’ and Walmart’s 6th largest (disclosed) transaction.
  • This is General Motors’ 3rd and Walmart’s 2nd transaction in the United States.
  • This is General Motors’ 2nd and Walmart’s 1st transaction in California.

M&A Deal Summary

Date 2016-03-11
Target Cruise Automation
Sector Technology Hardware
Buyer(s) General Motors
Walmart
Deal Type Add-on Acquisition
Deal Value 1.0B USD

Target

Cruise Automation

San Francisco, California, United States
Cruise Automation is a developer of autonomous vehicle technology and solutions. Founded in 2013, Cruise has moved to develop and test autonomous vehicle technology in San Francisco’s challenging city environment.

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Buyer(S) 2

Buyer

General Motors

Detroit, Michigan, United States

Category Company
Founded 1908
Sector Automotive
Employees163,000
Revenue 171.8B USD (2023)
DESCRIPTION
General Motors' corporate headquarters in Detroit, Michigan.
General Motors' corporate headquarters in Detroit, Michigan.

General Motors is a global manufacturer of cars, trucks, and auto parts. General Motors' automotive group is separated into GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA). GMNA develops vehicles manufactured and marketed under the Buick, Cadillac, Chevrolet and GMC brands. Outside of North America, vehicles are developed, manufactured and marketed under the Buick, Cadillac, Chevrolet, GMC, Holden, Opel and Vauxhall brands. GM also has equity ownership stakes directly or indirectly in entities through various regional subsidiaries, primarily in Asia. These companies design, manufacture and market vehicles under the Alpheon, Baojun, Buick, Cadillac, Chevrolet, Jiefang and Wuling brands. In addition to the products GM sells to dealers for consumer retail sales, GM also sells cars and trucks to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies and governments. General Motors was founded in 1908 and is based in Detroit, Michigan.


DEAL STATS #
Overall 3 of 5
Sector (Technology Hardware) 1 of 2
Type (Add-on Acquisition) 2 of 3
State (California) 2 of 2
Country (United States) 3 of 5
Year (2016) 2 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-18 SideCar

San Francisco, California, United States

SideCar LLC (Side.cr) is a provider of car sharing services accessible via a mobile app. The Company was formed in 2011 and shutdown in 2015.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-02 OEC

Richfield, Ohio, United States

OEC is a global automotive technology provider for OEM distribution networks. OEC's suite of eCommerce, pricing, supply chain, service, business intelligence, parts cataloging, data solutions, and services helps automakers and their dealer networks sell more OE parts in the collision, fleet, mechanical and retail segments, as well as dealers’ own service lanes. OEC was founded in 2000 and is based in Richfield, Ohio.

Buy -
Buyer

Walmart

Bentonville, Arkansas, United States

Category Company
Founded 1945
Sector Retail
Employees2,100,000
Revenue 611.3B USD (2023)
DESCRIPTION
Entrance to Walmart's corporate campus in Bentonville, Arkansas.
Entrance to Walmart's corporate campus in Bentonville, Arkansas.

Walmart is a discount retailer with operations across the globe. Walmart operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM?S CLUBS in the US. Internationally, the company operates in Puerto Rico, Canada, China, Mexico, Germany, United Kingdom, Argentina, and South Korea. Walmart was formed in 1945 and is based in Bentonville, Arkansas.


DEAL STATS #
Overall 7 of 22
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 4 of 17
State (California) 1 of 5
Country (United States) 2 of 15
Year (2016) 1 of 2
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-23 Distribución y Servicio D&S S.A.

Santiago, Chile

Distribución y Servicio D&S S.A. is a Chilean grocery store chain. D&S was formed in 1962 and is based in Santiago.

Buy $2.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-08 Jet.com

Hoboken, New Jersey, United States

Jet.com, Inc. is an online retailer offering household items, electronics, pet supplies and related items. Jet.com was formed in 2013 and is based in Hoboken, New Jersey.

Buy $3.3B