Walmart to acquire TV manufacturer Vizio in $2.3 bn deal

Walmart to acquire Vizio: Retail giant Walmart has officially confirmed its plans to acquire TV manufacturer Vizio in a deal valued at around $2.3 billion. The acquisition, which follows recent rumours, is seen as a strategic move by Walmart to expand its advertising business.

With this acquisition, Walmart aims to leverage Vizio's SmartCast Operating System (OS) to introduce new ways of connecting with and serving customers, particularly through innovative television and in-home entertainment experiences. Additionally, the deal is expected to open up new avenues for advertisers to engage with customers on a larger scale and maximise the impact of their advertising spend.

Vizio, known for its SmartCast platform and strong advertiser partnerships, is likely to strengthen Walmart's position in the smart TV market. While Walmart already offers its own Onn brand of TVs, acquiring Vizio will enable the retailer to better compete with other affordable smart TV brands like Amazon and Roku.

The proposed acquisition is subject to regulatory approval and includes provisions for termination if Vizio receives a better offer within a 45-day period. The move comes after Vizio recently revamped its TV software, enhancing the user experience with a modern home screen design.

Vizio CEO William Wang expressed optimism about the partnership, stating that it represents an ideal next chapter for the company. He believes that combining Vizio's technology with Walmart's resources will drive innovation and deliver increased value to customers. The collaboration is expected to bring forth a scaled, connected TV advertising platform through Walmart Connect, aligning with Vizio's mission and vision.