{"id":792020,"date":"2024-12-03T10:04:22","date_gmt":"2024-12-03T15:04:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/walmart-completes-acquisition-of-vizio\/"},"modified":"2024-12-03T10:04:22","modified_gmt":"2024-12-03T15:04:22","slug":"walmart-completes-acquisition-of-vizio","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/walmart-completes-acquisition-of-vizio\/","title":{"rendered":"Walmart Completes Acquisition of VIZIO"},"content":{"rendered":"

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Walmart Completes Acquisition of VIZIO<\/b><\/p>\n

Acquisition will introduce new customer entertainment experiences; accelerate growth at Walmart Connect, the company\u2019s advertising business<\/i><\/p>\n

BENTONVILLE, Ark.–(BUSINESS WIRE<\/a>)–
\nToday, Walmart announced the completion of the company\u2019s acquisition of VIZIO. The closing of the deal follows the expiration of the waiting period under federal regulations.<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20241203633675\/en\/<\/a><\/p>\n

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\nThe acquisition of VIZIO and its SmartCast Operating System allows Walmart to serve its customers in new ways to enhance their shopping journeys. It will also bring to market new and differentiated ways for advertisers to meaningfully connect with customers at scale and boost product discovery, helping brands achieve greater impact from their advertising investments with Walmart Connect \u2013 the company\u2019s retail media business in the U.S.<\/p>\n

\n\u201cVIZIO offers great products at great prices that customers love. They\u2019ve always put customers at the center of their business \u2013 and that\u2019s core to Walmart\u2019s values and the omnichannel experiences we\u2019re excited to roll out,\u201d said Seth Dallaire, executive vice president and chief growth officer, Walmart U.S. \u201cVIZIO 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.\u201d<\/p>\n

\n\u201cSince the inception of VIZIO, our mission has been to provide incredible value, great technology, and award-winning innovation,\u201d said William Wang, CEO and founder of VIZIO. \u201cToday, with the tremendous number of resources from Walmart, we will continue to further accelerate that mission around the best home entertainment experience.\u201d<\/p>\n

\nAs announced Feb. 20, 2024, Walmart signed a deal to acquire VIZIO and its SmartCast Operating System for $11.50 per share in cash, equating to a fully diluted equity value of approximately $2.3 billion.<\/p>\n

\nSince its founding in 2002, VIZIO\u2019s mission has been to deliver immersive entertainment and innovative connected home devices to consumers at great value. In recent years, VIZIO\u2019s growing device ecosystem and its smart TV operating system, SmartCast, have amassed over 19 million active accounts, growing approximately 400 percent since 2018. VIZIO has built this customer-centric platform on its devices enabling users to stream content for free by watching ads. Building on this foundation, VIZIO created an advertising business that has continued to grow while enabling marketers to reach consumers at scale. VIZIO\u2019s platform has a strong portfolio of direct advertiser relationships, including many of the Fortune 500. VIZIO\u2019s Platform+ segment, which consists largely of its advertising business, now accounts for all the company\u2019s gross profit.<\/p>\n

Walmart Connect<\/a>, the retailer\u2019s closed-loop, omnichannel retail media business in the U.S., grew 26 percent in Q3 this year. The business offers Walmart suppliers and sellers attractive opportunities to reach their desired customers no matter where, how and when they shop. Walmart Connect continues to innovate to bring to life distinct omnichannel solutions \u2013 across on-site and off-site digital properties and in stores \u2013 for brands of all sizes to accelerate shared growth. The business experienced 60 percent advertiser growth in Q3 of FY25, working with suppliers, emerging brands, Marketplace sellers and \u2013 more recently \u2013 nonendemic brands.<\/p>\n

\nWalmart and VIZIO will continue to operate separately for the foreseeable future. William Wang will continue to lead VIZIO as CEO, reporting to Dallaire.<\/p>\n

Transaction Details<\/b><\/p>\n