Vizio is now a member of the Walmart corporate empire. The retail company announced the completion of its $2.3 billion acquisition of the television producer on Tuesday.
Walmart didn’t just buy a TV brand. It now has a new advertising platform. Vizio’s SmartCast operating system collects huge amounts of data from its 19 million active accounts, and the company makes most of its money from the platform. Walmart’s new partnership with Vizio and its other smart TV brand Onn is sure to spur lucrative competition for ad revenue, according to the Wall Street Journal.
Walmart officially announced it plans to buy Vizio the following February first reports regarding his agreement.
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