Shares of Irvine-based Vizio Inc. (NYSE: VZIO) rose Thursday on news of a deal struck with Verizon Media on what’s expected to be greater ad targeting capabilities across devices.
The company’s shares were up about 2% to $27.35 for a market cap of $5 billion.
The deal for Vizio could help with targeted advertising for the advertisers it works with across TV and mobile using Verizon’s 200 billion cross-screen signals, which allows brands to present their ads to viewers in a consistent way across various types of device screens.
The deal also gives New York-based Verizon data of the more than 18 million Vizio smart TVs that have opted in to have their information shared.
Verizon will have exclusive access to that viewership information starting next year.