Walmart has announced the completion of its $2.3 billion all-cash acquisition of TV maker Vizio. This move was made to expand Walmart’s advertising business. The deal comes after the waiting period under federal regulations expires. Walmart announced the deal to buy Vizio in February 2024.
Through Walmart Connect, the company’s U.S. retail media business, Walmart said the acquisition of Vizio will
bring to market new and differentiated ways for advertisers to meaningfully connect with customers at scale and boost product discovery [1].
Operations
According to the announcement, Walmart and Vizio will continue to operate separately. William Wang will continue to lead Vizio as CEO, and report to Seth Dallaire, executive VP and chief growth officer of Walmart U.S.
Vizio
Vizio was founded in 2002 and is a leading vendor of value-priced HDTVs. It has garnered more than 19 million active accounts, growing approximately 400% since 2018. VIZIO has built this customer-centric platform on its devices, enabling users to stream content for free by watching ads.
Working Together
Walmart plans to integrate Vizio’s ad business with Walmart Connect, which sells suppliers and sellers advertising across on-site and off-site digital properties and in stores. Vizio has
put customers at the center of their business — and that’s core to Walmart’s values and the omnichannel experiences we’re excited to roll out [2].
With the deal closed, Vizio is now a wholly owned subsidiary of Walmart. Vizio’s Class A common stock will no longer be listed for trading on the NYSE. Going forward, Vizio’s business will be reported as part of the Walmart U.S. segment.
Notes:
- ^ {Walmart Closes {\ifmmode\$\else\textdollar\fi}2.3 Billion Acquisition of Vizio} (go back ↩)
- ^ {Walmart Closes {\ifmmode\$\else\textdollar\fi}2.3 Billion Acquisition of Vizio} (go back ↩)
