Walmart has finalized its acquisition of VIZIO, marking a significant expansion in the retail giant’s digital and advertising capabilities. The deal was completed following the expiration of the mandatory federal regulatory waiting period.
The $2.3 billion acquisition, announced on Feb. 20, 2024, includes VIZIO’s SmartCast operating system and aligns with Walmart’s strategy to enhance customer experiences and advertising opportunities. The purchase price of $11.50 per share in cash reflects a fully diluted equity valuation.
“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, Walmart U.S. executive vice president and chief growth officer. “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.”
William Wang, founder and CEO of VIZIO, expressed optimism about the partnership.
“With the tremendous number of resources from Walmart, we will continue to further accelerate that mission around the best home entertainment experience,” Wang said.
Founded in 2002, VIZIO has become a leader in home entertainment technology, with over 19 million active SmartCast accounts as of 2023 — a 400% increase since 2018. Its connected home devices and ad-supported content streaming platform have established VIZIO as a key player in digital media and advertising. Its Platform+ segment, primarily its advertising arm, now generates all of the company’s gross profit.
Walmart Connect, the retailer’s omnichannel retail media division, has also seen significant growth. In Q3 of FY25, the business reported a 26% increase in revenue and a 60% rise in advertiser participation. By combining Walmart Connect’s reach with VIZIO’s advertising platform, Walmart aims to unlock new avenues for product discovery and customer engagement at scale.
For now, Walmart and VIZIO will operate independently. Wang will remain CEO of VIZIO, reporting to Dallaire.
For more information, visit walmart.com.
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