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Walmart has agreed to buy TV maker Vizio, the companies announced Tuesday, as the largest U.S. retailer grows its high-profit ad business.
Walmart will acquire Vizio for $2.3 billion, or $11.50 per share, in cash. The big-box retailer announced the acquisition as it reported its fourth-quarter earnings.
Vizio shares, which spiked after reports of the deal first emerged last week, closed at $11.08 on Tuesday after another 16% pop.
Walmart and its Sam’s Club warehouse chain have long been major sellers of Vizio devices. But in buying the company, Walmart touted the potential to boost its ad business through Vizio’s SmartCast Operating System, which allows users to stream free ad-supported content on their TVs.
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Walmart will acquire Vizio for $2.3 billion, or $11.50 per share, in cash. The big-box retailer announced the acquisition as it reported its fourth-quarter earnings.
Vizio shares, which spiked after reports of the deal first emerged last week, closed at $11.08 on Tuesday after another 16% pop.
Walmart and its Sam’s Club warehouse chain have long been major sellers of Vizio devices. But in buying the company, Walmart touted the potential to boost its ad business through Vizio’s SmartCast Operating System, which allows users to stream free ad-supported content on their TVs.
Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business
Walmart touted the ability to grow its ad business through a Vizio TV platform that allows users to watch free ad-supported content.
