Walmart to buy smart tv maker Vizio
Retail giant Walmart has entered into an agreement to acquire smart TV maker Vizio in a USD 2.3 billion deal. I
Walmart says that the acquisition of Vizio – along with its SmartCast Operating System (OS) – would enable the retail company to connect with its customers in new ways, including television and in-home entertainment and media experiences.
The deal also opens up new opportunities in the world of advertising. The retail company states in a press release that the combination of the two is expected to accelerate Walmart’s media business in the US, Walmart Connect, bringing together Vizio's advertising solutions business with Walmart’s reach and capabilities
“There is a lot to be excited about with this acquisition,” says Seth Dallaire, executive vice president and chief revenue officer, Walmart US in the press release. “We believe Vizio's customer-centric operating system provides great viewing experiences at attractive price points. We also believe it enables a profitable advertising business that is rapidly scaling. Our media business, Walmart Connect, is helping brands create meaningful connections with the millions of customers who shop with us each week. We believe the combination of these two businesses would be impactful as we redefine the intersection of retail and entertainment.”
In recent years, Vizio's device ecosystem and its Smart TV operating system, SmartCast, have amassed over 18 million active accounts growing approximately 400 percent since 2018. The company has built this platform on its devices enabling users to stream content for free by watching ads. Building on this, Vizio created an advertising business that has continued to grow.
