BENTONVILLE, AR & IRVINE, CA - Pressing the gas on its advertising, entertainment, and media strategy, Walmart has entered an agreement to acquire VIZIO. This comes as part of a $2.3 billion deal that will enable the retail behemoth to better connect with consumers.

“There is a lot to be excited about with this acquisition,” said Seth Dallaire, Executive Vice President and Chief Revenue Officer at Walmart U.S. “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.”

Walmart agreed to acquire VIZIO for $11.50 per share in cash, a release explained. The acquisition of VIZIO and its SmartCast Operating System (OS) would enable Walmart to connect would create new opportunities to help advertisers connect with shoppers, empowering brands with differentiated and compelling opportunities to engage at scale and to realize greater impact from their advertising spend with the retailer.

This transaction will also further accelerate Walmart’s media business in the United States, Walmart Connect—which grew 30 percent in fiscal year 2024—by bringing together VIZIO’s advertising solutions business with the big-box chain’s reach and capabilities.

VIZIO’s growing device ecosystem and its Smart TV operating system, SmartCast, have amassed over 18 million active accounts, growing approximately 400 percent 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.”

To learn more about this deal and its impacts, click here.

What omnichannel and advertising developments will we see next from Walmart with these new capabilities in its arsenal? Stay tuned to ANUK for answers.