Vizio has officially become a part of the Walmart corporate empire. The retail giant announced on Tuesday the completion of its $2.3 billion acquisition of the TV manufacturer, marking a significant expansion into the smart TV and advertising sectors.
With this acquisition, Walmart has not only added a prominent TV brand to its portfolio but also gained access to a powerful new advertising platform. Vizio’s SmartCast OS, which operates on its smart TVs, collects vast amounts of data from its 19 million active accounts. This data is a crucial asset, as Vizio generates the majority of its revenue from its advertising platform.
The acquisition is expected to intensify the competition for advertising revenue. Walmart’s new partnership with Vizio, along with its existing smart TV brand Onn, positions the company to leverage these platforms for lucrative advertising opportunities. According to the Wall Street Journal, this move is likely to shake up the advertising market significantly.
Walmart had initially announced its plans to acquire Vizio in February, following early reports about the deal. Now, with the acquisition finalized, Walmart is poised to integrate Vizio’s technology and data capabilities to enhance its advertising strategies and further solidify its presence in the smart TV market.
