Walmart announces its plan to buy Vizio for $2.3 billion

Last week, a report from the Wall Street Journal claimed that Walmart is planning to buy Vizio for USD 2 billion to expand Walmart’s advertising business, Walmart Connect. Now, the news is official. Walmart has announced that it is acquiring Vizio for USD 2.3 billion.

In the press release, Walmart says “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.”

With the acquisition, Walmart could show advertisements on Vizio’s TV and collect viewer data from those products, which could increase the company’s revenue from the advertisement business and at the same time, increase the sales of products at Walmart’s offline and online store, increasing the revenue from selling products. With all these things, Walmart will be able to compete with Amazon in a better way.