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Target takes a page out of Wal-Mart's acquisition playbook, with plans to grow same-day delivery

Target has for the past few months been reinvesting in itself, rolling out its own private-label brands and keeping especially quiet on the acquisition front, with rival Wal-Mart on a buying spree. Until now.

Target announced plans on Monday to acquire Grand Junction, a San-Francisco based transportation technology company whose software manages retailers' local deliveries.

This partnership will allow Target to send packages to guests faster and more efficiently, according to Target's chief supply chain and logistics officer, Arthur Valdez.

"It will... boost our ability to offer new services – like same-day delivery, and even assembly and installation – to our guests," Valdez said in a statement.

Grand Junction had already been working with Target on a same-day delivery pilot at the big-box retailer's smaller-format store in New York's Tribeca neighborhood.