US retail giant Walmart is to buy of VIZIO and its SmartCast Operating System in a deal worth $2.3 billion.
The move will see an expansion for its media business in the United States, Walmart Connect, bringing together VIZIO’s advertising solutions business with Walmart’s reach and capabilities.
“There is a lot to be excited about with this acquisition,” said Seth Dallaire, executive vice president and chief revenue officer, Walmart US. “We believe VIZIO’s customer-centric operating system provides great viewing experiences at attractive price points. We also believe it enables a profitable advertising business that is rapidly scaling. Our media business, Walmart Connect, is helping brands create meaningful connections with the millions of customers who shop with us each week. We believe the combination of these two businesses would be impactful as we redefine the intersection of retail and entertainment.”
VIZIO’s growing device ecosystem and its Smart TV operating system, SmartCast, have grown to over 18 million active accounts growing approximately 400% since 2018.
We believe this is the ideal next chapter in VIZIO’s history. By bringing our capabilities and resources together, we’ll drive innovation and create even more value for our customers,” said William Wang, chief executive officer of VIZIO. “Walmart’s approach is aligned with VIZIO’s mission and vision, and our technology will help bring a scaled, connected TV advertising platform to Walmart Connect. This transaction delivers immediate and compelling value to VIZIO stockholders and is a true testament to the hard work of the entire VIZIO team.”
Given its major retail presence, Wallmart’s journey into connected TV operating systems will be watched carefully by new rivals Roku, Apple, Amazon Fire and Samsung.
