Walmart closes deal to buy Vizio for $2.3 billion
The retail chain hopes with this acquisition to be able to "develop more of its own entertainment content."
Could Walmart become the next Amazon? The retail chain announced Tuesday that it closed an agreement to buy television manufacturer Vizio for $2.3 billion.
The agreement, which is completed after several weeks of rumors, will allow the multinational to "develop more of its own entertainment content." Vizio, despite being known for its televisions, also has the SmartCast operating system. This was announced by Walmart U.S. Executive Vice President and Chief Revenue Officer Seth Dallaire:
Vizio and Walmart, a ‘value’ merger
The tool has more than 18 million active accounts and is included in all Vizio devices in addition to being compatible with other services such as Apple Airplay as well as Amazon's Alexa. Walmart, explained Seth Dallaire, is "excited" about about the merger:
Vizio CEO William Wang was also pleased with the agreement. As stated in the press release, the purchase by Walmart represents "the ideal next chapter in Vizio’s history":