Walmart buying TV-brand Vizio for its ad-fueling customer data

Walmart announced an agreement to buy Vizio today. Irvine, California-based Vizio is best known for lower-priced TVs, but its real value to Walmart is its advertising business and access to user data.

Walmart said it's buying Vizio for approximately $2.3 billion, pending regulatory clearance and additional closing conditions. Vizio can also terminate the transaction over the next 45 days if it accepts a better offer, per the announcement.

Walmart will keep selling non-Vizio TVs should the merger close, Seth Dallaire, Walmart US's EVP and CRO who would manage Vizio post-acquisition, told The Wall Street Journal (WSJ).