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Walmart Is Buying Vizio In $2.3 Billion Deal

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Walmart and Vizio logos side by side

Walmart has confirmed that it is buying Vizio in a $2.3 billion ($11.50 per share in cash) deal. The acquisition is a major move by Walmart and one which will see the retailer take control of Vizio’s hardware and software businesses.

Last week, it became clear that a deal between Walmart and Vizio might be on the cards. While the two companies were only reported to be in talks at the time, those talks were clearly at a very advanced stage, and especially as Walmart has now publicly announced the acquisition, which is still subject to regulatory approval.

There is a lot to be excited about with this acquisition,” said Seth Dallaire, executive vice president and chief revenue officer, Walmart U.S. “We believe VIZIO’s customer-centric operating system provides great viewing experiences at attractive price points.”

While the deal will certainly help Walmart with expanding its hardware business, taking control of the SmartCast operating system comes with its own benefits. Specifically, the advertising side of the platform has grown massively over the years, helped by the company’s WatchFree+ streaming service, and this side of the business is something Walmart is also keenly interested in.

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,” Dallaire said.

This combination of hardware and software will make it possible for Walmart to engage with homes and consumers in new ways. According to Walmart, this will include “innovative television and in-home entertainment and media experiences.”

Today’s announcement confirmed Vizio’s smart TV operating system now has more than 18 million active accounts, slightly up on the 17.9 million SmartCast active accounts reported for the end of the third quarter of 2023.

It is worth noting that the terms of the agreement makes it possible for Vizio to terminate the deal within a 45-day period if it receives a “superior offer.”

John Finn

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