Walmart just closed its acquisition of popular television maker Vizio in an effort to boost its advertising business. The acquisition was initially reported back in February; however, it took a few months to complete due to the waiting period under federal regulations.
The all-cash deal is valued at $2.3 billion.
With this strategic move, Walmart aims to become a leader in connected TV advertising. By integrating Vizio into its advertising platform, Walmart Connect, the retail giant is positioning itself to better compete with industry heavyweights like Amazon, Google, and Roku.
The integration allows Walmart to combine its retail operations with TV hardware, providing direct access to customer data on viewing habits and shopping preferences. The information gathered can then be used to tailor ads, enhance product offerings, and create a personalized shopping experience. As a result, Vizio TVs are likely to feature a significant number of ads for Walmart products. Additionally, Walmart will gain control of Vizio’s WatchFree+ streaming service.