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Enlarge (credit: Vizio)
Walmart announced an agreement to buy Vizio today. Irvine, California-based Vizio is best known for lower-priced TVs, but its real value to Walmart is its advertising business and access to user data.
Walmart said it's buying Vizio for approximately $2.3 billion, pending regulatory clearance and additional closing conditions. Vizio can also terminate the transaction over the next 45 days if it accepts a better offer, per the announcement.
Walmart will keep selling non-Vizio TVs should the merger close, Seth Dallaire, Walmart US' EVP and CRO who would manage Vizio post-acquisition, told The Wall Street Journal (WSJ).
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