2002, 1-800 CONTACTS, Inc. signed a letter of intent with Southfield, Michigan-based Camelot Ventures to acquire select assets of Lens Express and Lens 1st, the two leading U.S. mail-order contact lens retailers. Under the terms of the agreement, 1-800 CONTACTS acquired certain assets of Lens Express and Lens 1st, including databases, customer information, web addresses, phone numbers, and intellectual property rights. In addition, acquired assets included certain property, equipment, inventories and other tangible assets with an expected total value at closing of more than $5 million. The consideration to be paid included 900,000 restricted shares of common stock, $6.5 million in cash and the assumption of current liabilities with an expected value at closing of approximately $4.8 million. January 17, 2008 Wal-Mart Stores Inc. (NYSE: WMT) announced a long-term agreement with 1-800 CONTACTS. The alliance aligns the independent eye doctors located in nearly 3,000 Wal-Mart Stores and Sam's Clubs with 1-800 CONTACTS. References American companies established in 1985 Retail companies established in 1985 Retail companies disestablished in 2002 1996 mergers and acquisitions 2002 mergers and acquisitions