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Walmart Agrees to Acquire VIZIO; Seth Dallaire and William Wang Share

Walmart Agrees to Acquire VIZIO; Seth Dallaire and William Wang Share


BENTONVILLE, AR & IRVINE, CA
Wednesday, February 21st, 2024

Major news from Walmart: the retailer is ramping up its advertising and media strategy with the recent acquisition of VIZIO. This comes as part of a $2.3 billion deal that will enable the retail behemoth to better connect with consumers.

Seth Dallaire, Executive Vice President and Chief Revenue Officer, Walmart U.S.“There is a lot to be excited about with this acquisition,” said Seth Dallaire, Executive Vice President and Chief Revenue Officer at Walmart U.S. “We believe VIZIO’s customer-centric operating system provides great viewing experiences at attractive price points. 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.”

According to a press release, Walmart agreed to acquire VIZIO for $11.50 per share in cash. The acquisition of VIZIO and its SmartCast Operating System (OS) would enable Walmart to create new opportunities to help advertisers connect with shoppers, empowering brands with differentiated and compelling opportunities to engage at scale and to realize greater impact from their advertising spend with the retailer.

Walmart has entered an agreement to acquire VIZIO as part of a $2.3 billion deal

This transaction will also further accelerate Walmart’s media business in the United States, Walmart Connect—which grew 30 percent in fiscal year 2024—by bringing together VIZIO’s advertising solutions business with the big-box chain’s reach and capabilities.

William Wang, Chief Executive Officer, VIZIO“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.”

Interested in learning more about this deal and its potential impact? Click here.

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