57.2 F
Laguna Hills
Thursday, Apr 18, 2024
-Advertisement-

Walmart Buying Vizio

Vizio shares jump after announcement

Retail giant Walmart (NYSE: WMT) said today it is purchasing Irvine-based Vizio Holding Corp. (NYSE: VZIO), the media company and maker of TVs, for $2.3 billion.

Vizio is historically the largest television brand sold at Walmart by sales.

The deal would make Walmart (NYSE: WMT) a larger player in connected TV advertising, where it would compete with Roku, Amazon and YouTube.

Shares in Vizio jumped 14.9% to $10.94 apiece for a market cap of $2.2 billion after the Walmart announcement.

For more on the deal, see the Feb. 19 print edition of the Business Journal.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-