Walmart is set to acquire TV maker Vizio in a deal valued at approximately $2.3 billion, as confirmed by the retail giant in a recent press release. This move is part of Walmart’s strategy to bolster its advertising business and to offer innovative in-home entertainment experiences to its customers.

The Acquisition of Vizio, including its SmartCast Operating System (OS), is expected to provide Walmart with new ways to connect with and serve its customers, as well as create opportunities for advertisers to engage with customers at scale. Vizio, which boasts more than 18 million active accounts using its SmartCast OS, also has a strong advertiser partnership base through its Vizio Platform Plus business.

With this acquisition, Walmart aims to better compete with affordable smart TVs offered by competitors like Amazon and Roku. The retail giant has previously partnered with Innovid and Roku to run personalized and “shoppable” ads on TVs, and owning Vizio will further enhance its position in the smart TV market.

The proposed acquisition of Vizio by Walmart will be subject to regulatory clearance and could potentially be terminated if Vizio receives a better offer within a 45-day period. This move comes after Vizio’s recent overhaul of its TV software, which includes an improved modern homescreen experience for its range of TVs. Vizio CEO William Wang believes that the acquisition will drive innovation and create more value for customers, aligning with Vizio’s mission and vision.

Overall, Walmart’s acquisition of Vizio is expected to bring a scaled, connected TV advertising platform to Walmart Connect, further strengthening its position in the smart TV market.

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