Walmart is set to acquire Vizio for about $2.3 billion, confirming earlier rumors.
The move aims to enhance Walmart’s advertising business by leveraging Vizio’s SmartCast OS and its 500+ advertiser partnerships. With over 18 million active SmartCast accounts, Vizio brings substantial market presence. This acquisition complements Walmart’s Onn brand and strengthens its competition against Amazon and Roku in the smart TV market.
“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,” says Walmart’s press release.
Expanding their current TV Brands
While Walmart already has its own Onn brand of televisions, acquiring Vizio will enable the retail giant to better compete in the market for affordable smart TVs, where competitors like Amazon and Roku are dominant players. This acquisition aligns with Walmart’s previous efforts to leverage partnerships for personalized advertising on TVs, as seen in collaborations with Innovid and Roku.
Vizio’s added innovation
As Vizio continues to vie against competitors such as Hisense, TCL, and budget-priced Roku TVs, the emphasis on software differentiation underscores the company’s commitment to innovation and ensuring its relevance in an increasingly crowded market landscape.
Regulatory approval is pending, with a 45-day window for potential alternative offers. Vizio’s recent software upgrade underscores its commitment to innovation amid competition from Hisense, TCL, and Roku TVs.
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