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Walmart's tech incubator acquires VR platform Spatialand

Walmart Inc.'s technology incubator Store No 8 said Feb. 5 that it acquired Spatialand, a virtual reality platform and content studio, to foster "immersive retail environments" for the store chain. Financial details were not disclosed.

Spatialand will be used to create the third company in Store No 8's portfolio, with an aim to develop VR products that can be integrated into both Walmart's e-commerce and brick-and-mortar operations.

Katie Finnegan, principal of Store No 8, will serve as interim CEO of the new VR business while continuing in her current role. Spatialand head Kim Cooper and Store No 8 VR consultant Jeremy Welt will also hold leadership roles as co-founders.

Store No 8 said it previously collaborated with Spatialand for its VR event Innov8 in 2017, which featured a virtual campsite where customers could try outdoor products.