Walmart has finalized its $2.3 billion all-cash acquisition of Vizio, a television manufacturing company following the completion of the mandatory waiting period under federal regulations. The acquisition is part of the retailer’s strategy to strengthen its advertising business and diversify its offerings. Walmart had initially announced its plans to acquire Vizio in February 2024.
According to Walmart, the acquisition of Vizio will let it “bring to market new and differentiated ways for advertisers to meaningfully connect with customers at scale and boost product discovery” through Walmart Connect, the company’s U.S. retail media business.
Founded in 2002, Vizio has over 19 million active accounts a growth of nearly 400% since 2018, and has established itself as a prominent provider of affordable HDTVs. The company’s device ecosystem is powered by its SmartCast operating system, offering users free, ad-supported access to streaming content. Its Platform+ segment, driven primarily by its advertising business, now generates the entirety of the company’s gross profit.
Notably, Walmart intends to merge Vizio’s advertising operations with Walmart Connect, its platform that offers advertising solutions to suppliers and sellers across digital properties, both on-site and off-site, as well as in physical stores.
William Wang, CEO of Vizio, said, “Since the inception of Vizio, our mission has been to provide incredible value, great technology, and award-winning innovation. Today, with the tremendous number of resources from Walmart, we will continue to further accelerate that mission around the best home entertainment experience.”
Following the completion of the acquisition, Vizio has become a wholly owned subsidiary of Walmart. As a result, Vizio’s Class A common stock will be delisted from the NYSE, with the change expected to take effect at the close of trading on Tuesday. Moving forward, Vizio’s operations will be reported under the Walmart U.S. segment.