From CNBC:

Walmart has agreed to acquire TV maker Vizio for $2.3 billion in cash. The acquisition aims to grow Walmart’s high-profit ad business. Vizio shares spiked after the deal was announced, closing at $9.53 on Friday and jumping 15% during premarket trading Tuesday. Walmart plans to boost its ad business through Vizio’s SmartCast Operating System. The move comes as Walmart competes with Amazon’s growing ad segment. The Vizio platform has 18 million active accounts, giving companies that advertise with Walmart a greater reach.



Read more: Walmart agrees to buy Vizio to grow ad business