Target to buy online grocery delivery provider Shipt

Minneapolis-based Target Corp. said today that it is buying grocery delivery provider Shipt for $550 million. The deal is expected to be completed by the end of the year.

Amping up its delivery capabilities to better compete against Amazon, Target said it expects to offer same-day delivery at roughly half of its stores by early next year and at nearly all of its locations by the end of 2018.

“We believe we will be able to leap several years ahead, significantly accelerating our nationwide delivery,” said John Mulligan, Target’s operations chief, during a conference call with reporters.

To learn more about the acquisition, read the article posted on Fortune.com.