US retail giant Walmart has completed the acquisition of VIZIO and its SmartCast Operating System.
The retailer says the purchase will allow it to serve customers in new ways while offering advertisers new ways to connect with customers at scale and boost product discovery.
“VIZIO offers great products at great prices that customers love. They’ve always put customers at the center of their business – and that’s core to Walmart’s values and the omnichannel experiences we’re excited to roll out,” said Seth Dallaire, executive vice president and chief growth officer, Walmart US. “VIZIO has also expertly changed their business over time, like building and quickly scaling a profitable advertising business. Pairing it with Walmart Connect will be impactful and allow us to invest in our business even further on behalf of our customers.”
Walmart will pay $2.3 billion for the two decade old business that has 19 million active accounts. VIZIO has grown its installed base by 400 per cent since 2018.
