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Walmart has announced it is acquiring the television company VIZIO for $2.3 billion.
The announcement was made Tuesday morning.
According to CNBC, it is a cash sale.
Not only is Walmart buying VIZIO, it is also acquiring the company’s SmartCast Operating System, which “would enable Walmart to connect with and serve its customers in new ways including innovative television and in-home entertainment and media experiences,” the company said.
That means that Walmart will be able to market its products directly to VIZIO SmartCast account holders, CNN reported.
VIZIO was founded in 2002 and currently has more than 18 million SmartCast active accounts. It also has more than 500 “direct advertiser relationships.”
The deal still has to clear regulatory hurdles.
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