Walmart to Buy Vizio for $2.3B
Walmart has agreed to acquire smart TV maker Vizio for $2.3 billion, or $11.50 per share, making the big box retail giant a significant player in connected TV advertising, competing with Roku, Amazon, Google/YouTube and Samsung Ads.
Walmart said the acquisition and Vizio’s SmartCast Operating System would help the company grow its media business, Walmart Connect, and give it a foothold in “innovative television and in-home entertainment and media experiences.”
“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,” said Seth Dallaire, EVP, CRO, Walmart U.S.
Vizio has seen 400% growth in active accounts since 2018, according to the firm. It has more than 18 million active accounts and a growing advertising business.
Vizio has the right to terminate the transaction with a 45-day “go-shop” period if it receives and accepts a “superior offer.”