Walmart completes $3.4 billion acquisition of TV maker Vizio, announces it will give advertisers new ways to reach customers via its digital advertising platform Walmart Connect



On December 3, 2024, retail giant Walmart announced that it had completed its acquisition of American TV manufacturer

VIZIO . The acquisition price was $2.3 billion (approximately 344 billion yen), and the two companies will continue to operate separately for the time being.

Walmart Completes Acquisition of VIZIO
https://corporate.walmart.com/news/2024/12/03/walmart-completes-acquisition-of-vizio






Walmart Closes $2.3 Billion Acquisition of Vizio
https://variety.com/2024/digital/news/walmart-closes-vizio-acquisition-1236233418/

Founded in 2002, VIZIO develops ' SmartCast ,' an OS for smart TVs that allows users to enjoy free content streaming by watching advertisements. At the time of writing, the company had over 19 million active accounts, and had grown rapidly by approximately 400% since 2018.

In February 2024, Walmart announced that it had acquired VIZIO. Walmart purchased VIZIO shares for $11.50 per share (about 1,700 yen) for a total of $2.3 billion.

'VIZIO offers great products at great prices that customers love. They have always put the customer at the center of their business and share the same values as Walmart. Combining VIZIO's advertising business with our digital advertising platform, Walmart Connect , will enable us to invest in an impactful business,' said Seth Dallaire, executive vice president and chief growth officer at Walmart. 'Through Walmart Connect, we are able to bring to market new and differentiated ways for advertisers to meaningfully connect with customers and drive product discovery.'



'Since our founding, VIZIO's mission has been to deliver incredible value, superior technology and innovation to our customers,' said William Wang, founder and CEO of VIZIO. 'With our acquisition by Walmart, we receive tremendous resources to continue accelerating our mission of creating the best home entertainment experience.'

Walmart said the two companies will continue to operate separately for the time being, with Wang continuing to lead Vizio as CEO under Dallaire's leadership. Upon completion of the acquisition, Vizio will become a wholly owned subsidiary of Walmart and Vizio's Class A common stock will no longer trade on the New York Stock Exchange.

Related Posts:

in Web Service, Posted by log1r_ut