Vizio is now a member of the Walmart corporate empire. The retail company announced the completion of its $2.3 billion acquisition of the TV manufacturer on Tuesday.
Walmart didn’t just buy a TV brand. It now owns a new advertising platform. Vizio’s SmartCast OS collects huge amounts of data from its 19 million active accounts, and the company makes the majority of its money from the platform. Walmart’s new partnership with Vizio and its other smart TV brand Onn is sure to stir up the lucrative competition for advertising revenue, according to the Wall Street Journal.
Walmart officially announced its plans to buy Vizio in February following early reports about its deal.
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