Walmart officially buying Vizio for $2.3 billion with focus on SmartCast software

Ben Schoon | Feb 20 2024 - 6:35 am PT

After first being reported last week, Walmart has officially announced that it will buy TV-maker Vizio.

In a press release today, Walmart confirms its plan to buy Vizio for $2.3 billion ($11.50 per share in cash). The deal would see Vizio folded into Walmart and it’s pretty clear what the retailer is focused on with the acquisition. Vizio’s SmartCast operating system in use on all of its TVs, Walmart says, is seen as an expansion opportunity for Walmart’s “Connect” media business, as well as a boost to its advertising business.

Walmart explains:

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. 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. The combination would be expected to further accelerate Walmart’s media business in the U.S., Walmart Connect, bringing together VIZIO’s advertising solutions business with Walmart’s reach and capabilities. These benefits would be further strengthened by the growth of connected TV platforms and Walmart’s industry-leading TV panel sales.

Vizio TVs are currently sold at a host of different retailers but there’s no word yet on how this would affect sales or the use of Vizio’s brand going forward. Another outlying product that could be affected is Walmart’s Onn-branded Google TV products.

Walmart’s deal with Vizio is not yet final, and pending “regulatory clearance and other closing conditions.”