Retail giant Walmart is in talks to buy smart TV maker Vizio (NYSE: VZIO) of Irvine for more than $2 billion, the Wall Street Journal reported, citing people familiar with the matter.
“The move would give Walmart more places where it can sell ads and pitch shoppers on goods,” according to the newspaper.
“Vizio is historically the largest television brand sold at Walmart by sales.”
Shares in Vizio jumped 22% to $9.56 each for a market cap of $1.9 billion after the newspaper’s report.
