Walmart plans to buy Vizio for $2.3 billion

By: Nastya Bobkova | 20.02.2024, 21:48
Walmart plans to buy Vizio for $2.3 billion

Walmart has officially announced its intention to acquire TV manufacturer Vizio for USD 2.3 billion. One of the key assets that Walmart will receive is the SmartCast operating system, which will open up new opportunities for the company in the advertising sector.

Vizio claims to have more than 500 direct partnerships with advertisers through its Vizio Platform Plus business, as well as more than 18 million active accounts on its Smart TV operating system, which will be a significant asset for Walmart.

Walmart already has its own Onn TV brand, but the acquisition of Vizio will help the company compete with affordable smart TVs from Amazon and Roku. It also strengthens Walmart's role in the advertising market, especially after last year's collaboration with Innovid and Roku.

The deal is still pending regulatory approval and can be terminated within 45 days if Vizio receives a "better offer". Vizio CEO, William Wang, said that the decision is the perfect next step for the company, combining their resources and abilities to drive innovation and create more value for customers.

Source: The Verge