Leo Lopez
Member
Last week, rumors surfaced about Walmart's plans to acquire TV manufacturer Vizio in a deal worth approximately $2.3 billion.
Today, Walmart issued a press release announcing its acquisition of the company for $11.50 per share in cash, equivalent to a fully diluted equity value of about $2.3 billion.
Walmart stated that acquiring Vizio and its SmartCast OS would enable it to engage with customers in unprecedented ways and provide them with innovative televisions, home entertainment, and media experiences. According to Walmart, "This will also create new opportunities to help advertisers connect with customers, enabling brands to attract users on a large scale in a differentiated and engaging manner, and derive greater impact from their advertising spend at Walmart."
Thanks to its Vizio Platform Plus business (which the company says "currently represents the majority of its gross profit"), Vizio currently has over 500 direct advertising partners, and its SmartCast system boasts over 18 million active accounts.
Today, Walmart issued a press release announcing its acquisition of the company for $11.50 per share in cash, equivalent to a fully diluted equity value of about $2.3 billion.
Walmart stated that acquiring Vizio and its SmartCast OS would enable it to engage with customers in unprecedented ways and provide them with innovative televisions, home entertainment, and media experiences. According to Walmart, "This will also create new opportunities to help advertisers connect with customers, enabling brands to attract users on a large scale in a differentiated and engaging manner, and derive greater impact from their advertising spend at Walmart."
Thanks to its Vizio Platform Plus business (which the company says "currently represents the majority of its gross profit"), Vizio currently has over 500 direct advertising partners, and its SmartCast system boasts over 18 million active accounts.
