
Walmart has officially completed its acquisition of VIZIO, including its SmartCast Operating System, following federal regulatory approval. The $2.3 billion transaction, announced earlier this year, marks a significant step in Walmart’s efforts to enhance customer shopping experiences and expand its advertising capabilities through Walmart Connect, its U.S.-based retail media business.
Enhancing Customer Engagement and Advertising Solutions
The integration of VIZIO’s SmartCast technology allows Walmart to provide customers with richer, more tailored experiences. Additionally, it creates opportunities for advertisers to engage with Walmart’s vast customer base in more impactful ways. Walmart Connect plans to leverage VIZIO’s advertising business and platform to enhance product discovery and improve the effectiveness of advertising campaigns, delivering measurable returns for brands.
Seth Dallaire, Walmart U.S. Executive Vice President and Chief Growth Officer, expressed enthusiasm about the acquisition, citing shared values between the two companies. “VIZIO offers great products at competitive prices and prioritizes customers, which aligns perfectly with Walmart’s mission. Their ability to scale a profitable advertising business complements Walmart Connect’s growth strategy,” Dallaire said.
VIZIO’s Evolution and Mission Alignment
Founded in 2002, VIZIO has built a strong reputation for delivering high-quality, affordable home entertainment solutions. Over the years, it has evolved into a tech-driven company with a focus on innovation. Its SmartCast operating system, which enables seamless content streaming, now boasts over 19 million active accounts, a 400% increase since 2018. This platform also underpins VIZIO’s profitable advertising business, which caters to prominent brands, including Fortune 500 companies.
VIZIO’s CEO and founder, William Wang, reflected on the company’s journey and expressed optimism about its future under Walmart’s ownership. “Since our inception, we’ve aimed to provide exceptional value and innovation. With Walmart’s extensive resources, we can accelerate our mission and redefine home entertainment experiences for millions of customers,” Wang said.
Strategic Synergies with Walmart Connect
Walmart Connect, a rapidly growing retail media platform, experienced a 26% increase in revenue during Q3 of fiscal year 2025. The platform enables suppliers, sellers, and advertisers to reach Walmart customers through diverse channels, including in-store, online, and mobile. It also achieved a 60% growth in its advertiser base, drawing interest from brands of all sizes.
The acquisition of VIZIO’s advertising business is expected to further Walmart Connect’s success by incorporating advanced targeting capabilities and reaching a broader audience across multiple devices. This integration aims to drive mutual growth for Walmart, its advertising partners, and VIZIO.
Transaction Details and Financial Implications
Walmart purchased VIZIO for $11.50 per share, reflecting a total equity value of approximately $2.3 billion. As part of the deal, VIZIO is now a wholly owned subsidiary of Walmart, and its shares will no longer be publicly traded on the NYSE. The transition aligns VIZIO’s business operations with Walmart’s U.S. segment, ensuring seamless collaboration while allowing both companies to operate independently in the near term.
The acquisition is expected to be slightly dilutive to Walmart’s earnings per share (EPS) in fiscal years 2025 and 2026 due to transaction-related costs. However, Walmart projects the internal rate of return on this investment to exceed its average return on capital. The company financed the purchase using a combination of cash and debt.
Walmart’s Vision for the Future
As a global leader in retail with fiscal 2024 revenues of $648 billion, Walmart continues to innovate by investing in technology, sustainability, and customer-centric initiatives. The addition of VIZIO to its portfolio underscores Walmart’s commitment to enhancing value for customers and business partners while staying at the forefront of digital transformation.
By combining VIZIO’s technological expertise and advertising success with Walmart’s scale and retail media capabilities, the companies are set to redefine customer engagement and unlock new growth opportunities in the evolving retail landscape.
Walmart’s acquisition of VIZIO is more than a business transaction—it’s a strategic alignment of two customer-focused companies working toward shared goals.