Just in time for Christmas, Walmart is officially putting the bow on its VIZIO acquisition. The closing of the deal follows the expiration of the waiting period under federal regulations.
After being announced Feb. 20, 2024, Walmart signed a deal to acquire VIZIO and its SmartCast Operating System for $11.50 per share in cash, equating to a fully diluted equity value of approximately $2.3 billion.
As a result of the completion of the transaction, VIZIO now sits as a wholly owned subsidiary of Walmart, and VIZIO’s Class A common stock will no longer be listed for trading on the NYSE, which is expected to take effect as of the close of market today.
VIZIO’s business will be reported as part of the Walmart U.S. segment going forward.
Walmart and VIZIO will continue to operate separately for the foreseeable future. William Wang will continue to lead VIZIO as CEO, reporting to Dallaire.
Lightapalooza took place in late February, and the growth of the event has mirrored the rapid ascension lighting fixtures and controls.
Walmart has previously stated that the acquisition of VIZIO, which centers heavily around the company’s smart TV operating system, SmartCast, will enable “a profitable advertising business that is rapidly scaling.”
Prior to acquisition, VIZIO’s Platform+ business, which largely consisted of advertising, accounted for much of the company’s gross profit.
“VIZIO offers great products at great prices that customers love. They’ve always put customers at the center of their business – and that’s core to Walmart’s values and the omnichannel experiences we’re excited to roll out,” said Seth Dallaire, executive vice president and chief growth officer, Walmart U.S.
“VIZIO has also expertly changed their business over time, like building and quickly scaling a profitable advertising business. Pairing it with Walmart Connect will be impactful and allow us to invest in our business even further on behalf of our customers.”
Walmart Connect stands as the retailer’s closed-loop, omnichannel retail media business in the U.S., which grew 26 percent in Q3 this year. The business offers Walmart suppliers and sellers opportunities to reach customers across a variety of commerce portals, with it experiencing 60 percent advertiser growth in Q3 of FY25, as Walmart has continued to work with suppliers, emerging brands, Marketplace sellers and – more recently – nonendemic brands.
The move follows several other high profile acquisitions that have occurred within the home technology and custom integration space that include Bose’s acquisition of McIntosh Group, as well as Resideo’s acquisition of Snap One.
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