Dive Brief:
Walmart acquired the technology and IP behind Thunder, an ad-tech solution focused on creative automation, a company blog post announced. Financial terms of the deal were not disclosed.
Thunder's ad tech is a key part of a new self-serve display advertising platform that Walmart plans to roll out later this year, the retailer said. Its automation capabilities aim to make launching and adjusting campaigns seamless and more accessible to a wider range of advertisers, including smaller suppliers.
The acquisition arrives closely on the tails of an overhaul to Walmart's media network. The revamp includes a name change from Walmart Media Group to Walmart Connect and a partnership with The Trade Desk on developing a demand-side platform.