M&A Deal Summary

Target Acquires Shipt

On December 13, 2017, Target acquired internet software and services company Shipt for 550M USD

Acquisition Highlights
  • This is Target’s 2nd transaction in the Internet Software and Services sector.
  • This is Target’s 2nd largest (disclosed) transaction.
  • This is Target’s 8th transaction in the United States.
  • This is Target’s 1st transaction in Alabama.

M&A Deal Summary
Date 2017-12-13
Target Shipt
Sector Internet Software and Services
Buyer(s) Target
Deal Type Add-on Acquisition
Deal Value 550M USD

Target

Shipt

Birmingham, Alabama, United States
Shipt, Inc. is a mobile application that allows users to order and buy grocery products from local stores. Shipt, Inc. was established in 2014 and is based in Birmingham, Alabama.

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Buyer(S) 1

Buyer

Target

Minneapolis, Minnesota, United States
Category Company
Founded 1902
Sector Retail
Employees450,000
Revenue 109.1B USD (2023)
DESCRIPTION
View of Target's corporate headquarters in downtown Minneapolis, Minnesota.
View of Target's corporate headquarters in downtown Minneapolis, Minnesota.

Target is a general merchandise retailer serving the US market. The Target brand opened its first store in 1962 and currently operates more than 1,800 stores. Target was formerly known as Dayton Hudson Corp. which was originally founded in 1902. Target is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 8 of 9
Sector (Internet Software and Services) 2 of 2
Type (Add-on Acquisition) 7 of 8
State (Alabama) 1 of 1
Country (United States) 8 of 9
Year (2017) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-14 Grand Junction

San Francisco, California, United States

Grand Junction is a technology transportation company whose software manages local delivery throughout North America—allowing retailers, distributors and third-party logistics providers to offer local delivery through Grand Junction’s technology and network of more than 700 carriers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-07 Deliv

Menlo Park, California, United States

Deliv, Inc. is a crowdsourced, same-day delivery service that extends the reach of omnichannel retailers and helps them enhance their customer experience by giving customers the choice to receive their items whenever and wherever they want.

Buy -
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