Walmart has confirmed the rumors of its intention to purchase TV manufacturer Vizio in a $2.3 billion deal aimed to enhance its advertising business.
As of late, Vizio has shifted its business towards advertising on its SmartCast TV OS. According to the company, these ad partnerships “now [account] for a majority of the company’s gross profit.” It’s this revenue stream that seems to interest Walmart, who’s acquisition of the company is pending regulatory approval. The deal also gives Vizio clearance to terminate the acquisition within a 45-day period if it receives a “superior offer.”
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“The acquisition of Vizio and its SmartCast Operating System (OS) would enable Walmart to connect with and serve its customers in new ways including innovative television and in-home entertainment and media experiences,” reads Walmart’s press release. “It would also create new opportunities to help advertisers connect with customers, empowering brands with differentiated and compelling opportunities to engage at scale and to realize greater impact from their advertising spend with Walmart.”
