Walmart Closes Deal For Smart TV Firm Vizio For $2.3B, Altering Streaming Ad Landscape – Update

deadline.com:

UPDATED, 12:40 PM: Walmart‘s $2.3 billion acquisition of smart TV manufacturer Vizio and its SmartCast operating system closed Tuesday.

The deal allows Walmart to collect Vizio’s automatic content recognition data to bolster advertising and positions the retail giant to be a bigger force in the connected TV world. “Vizio offers great products at great prices that customers love.

They’ve always 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,” Seth Dallaire, Walmart U.S.’ EVP and Chief Growth officer, said in a statement. “Vizio has also expertly changed their business over time, like building and quickly scaling a profitable advertising business.

Pairing it with Walmart Connect will be impactful and allow us to invest in our business even further on behalf of our customers.” Read details of the acquisition below. PREVIOUSLY, February 20: Retail giant Walmart is acquiring smart TV maker Vizio for $2.3 billion in a deal that will alter the streaming advertising landscape.