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Walmart Competing with Roku Following Acquisition of Vizio


Walmart, the giant retailer, is entering the TV space and looks to be jumping into direct competition with Roku following their acquisition of smart-TV manufacturer Vizio for $2.3 billion, according to the Hollywood Reporter.

Walmart now seems poised to enter the fray with the likes of the aforementioned Roku, Samsung and tech giants such as Amazon, Google and Apple in a wide-spreading  industry space that has everyone competing for a stake in entertainment tech.

“There is a lot to be excited about with this acquisition,” Seth Dallaire, executive vp and chief revenue officer for Walmart U.S said in an official statement. “We believe Vizio’s customer-centric operating system provides great viewing experiences at attractive price points. We also believe it enables a profitable advertising business that is rapidly scaling. Our media business, Walmart Connect, is helping brands create meaningful connections with the millions of customers who shop with us each week. We believe the combination of these two businesses would be impactful as we redefine the intersection of retail and entertainment.”

“We believe this is the ideal next chapter in Vizio’s history. By bringing our capabilities and resources together, we’ll drive innovation and create even more value for our customers,” William Wang, CEO of Vizio said. “Walmart’s approach is aligned with Vizio’s mission and vision, and our technology will help bring a scaled, connected TV advertising platform to Walmart Connect. This transaction delivers immediate and compelling value to Vizio stockholders and is a true testament to the hard work of the entire Vizio team.”

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