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Vizio is getting snapped up by Walmart in a deal worth $2.3 billion.

The companies announced Tuesday they have entered into an agreement for Walmart to acquire Vizio, a leading maker of value-priced TV sets in the U.S.

The deal is subject to regulatory clearance and other usual closing conditions. Vizio’s board has unanimously approved the transaction, and shareholders owning 89% of the voting shares in the company have also OK’d the deal. According to Vizio, no other stockholder approval is required to complete the transaction.

According to Walmart, the deal to buy Vizio will enable the retailer to “connect with and serve its customers in new ways” including through “innovative television and in-home entertainment and media experiences.” The combination also would accelerate Walmart’s advertising business in the U.S., called Walmart Connect, by bringing together Vizio’s advertising business business with Walmart’s reach and resources.

“We believe Vizio’s customer-centric operating system provides great viewing experiences at attractive price points,” Seth Dallaire, EVP and chief revenue officer, Walmart U.S., said in a statement. “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.”

“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.”

Walmart Connect, the retailer’s closed-loop omnichannel media business, grew 30 percent for fiscal year 2024. The business offers Walmart suppliers and sellers attractive opportunities to reach their desired customers no matter where, how, and when they shop. The company continues to innovate to bring to life distinct omnichannel solutions for advertisers of all sizes and accelerate shared growth.

Upon completion of the transaction, VIZIO’s Class A common stock will no longer be publicly listed. Due to certain transaction-related costs associated with the acquisition, including for talent retention and technology integration, Walmart expects the transaction to be slightly dilutive to EPS in the near term.

Following the completion of the transaction, VIZIO’s business will be reported as part of the Walmart U.S. segment.



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