Walmart isn’t buying Vizio for its hardware—it wants its ad business
Walmart is opening a new front in its fight against Amazon: The retailer announced Tuesday morning that it has struck a deal to acquire budget TV-maker Vizio for $2.3 billion in cash. The transaction, provided it is approved by regulators, will give Walmart a foothold in the burgeoning smart TV advertising business, allowing it to more directly compete with the likes of Amazon, Roku and Google. It will also be a test for Walmart’s ability to meaningfully expand into services, and revitalize a TV manufacturer whose growth…