Walmart Agrees to Acquire VIZIO HOLDING CORP. to Facilitate Accelerated Growth of Walmart Connect through VIZIO’s SmartCast Operating System
2024年2月20日 - 9:02PM
ビジネスワイヤ(英語)
Advertising revenue from VIZIO’s innovative and
customer-centric operating system accounts for the majority of the
company’s growth in the last five years
Today, Walmart and VIZIO announced they have entered into an
agreement for Walmart to acquire VIZIO for $11.50 per share in
cash, equating to a fully diluted equity value of approximately
$2.3 billion.
The acquisition of VIZIO and its SmartCast Operating System (OS)
would enable Walmart to connect with and serve its customers in new
ways including innovative television and in-home entertainment and
media experiences. It would also create new opportunities to help
advertisers connect with customers, empowering brands with
differentiated and compelling opportunities to engage at scale and
to realize greater impact from their advertising spend with
Walmart. The combination would be expected to further accelerate
Walmart’s media business in the U.S., Walmart Connect, bringing
together VIZIO's advertising solutions business with Walmart’s
reach and capabilities. These benefits would be further
strengthened by the growth of connected TV platforms and Walmart’s
industry-leading TV panel sales.
“There is a lot to be excited about with this acquisition,” said
Seth Dallaire, executive vice president and chief revenue officer,
Walmart U.S. “We believe VIZIO’s customer-centric operating system
provides great viewing experiences at attractive price points. We
also believe it enables a profitable advertising business that is
rapidly scaling. Our media business, Walmart Connect, is helping
brands create meaningful connections with the millions of customers
who shop with us each week. We believe the combination of these two
businesses would be impactful as we redefine the intersection of
retail and entertainment.”
Since its founding in 2002, VIZIO’s mission has been to deliver
immersive entertainment and innovative connected home devices to
consumers at great value. In recent years, VIZIO’s growing device
ecosystem and its Smart TV operating system, SmartCast, have
amassed over 18 million active accounts growing approximately 400
percent since 2018. VIZIO has built this customer-centric platform
on its devices enabling users to stream content for free by
watching ads. Building on this foundation, VIZIO created an
advertising business that has continued to grow while enabling
marketers to reach consumers at scale. VIZIO’s platform has over
500 direct advertiser relationships, including many of the Fortune
500. VIZIO’s Platform+ business, which consists largely of its
advertising business, now accounts for a majority of the company’s
gross profit.
“We believe this is the ideal next chapter in VIZIO’s history.
By bringing our capabilities and resources together, we’ll drive
innovation and create even more value for our customers,” said
William Wang, chief executive officer of VIZIO. “Walmart’s approach
is aligned with VIZIO’s mission and vision, and our technology will
help bring a scaled, connected TV advertising platform to Walmart
Connect. This transaction delivers immediate and compelling value
to VIZIO stockholders and is a true testament to the hard work of
the entire VIZIO team.”
Walmart Connect, the retailer’s closed-loop omnichannel media
business, grew 30 percent for fiscal year 2024. The business offers
Walmart suppliers and sellers attractive opportunities to reach
their desired customers no matter where, how, and when they shop.
The company continues to innovate to bring to life distinct
omnichannel solutions for advertisers of all sizes and accelerate
shared growth.
Transaction Details
- The transaction is subject to regulatory clearance and other
closing conditions specified in the merger agreement.
- VIZIO’s Board of Directors has unanimously approved the
transaction.
- VIZIO stockholders (including Mr. Wang and his affiliates)
holding approximately 89% of the voting power of VIZIO’s
outstanding common shares have approved the transaction. No other
stockholder approval is required to complete the transaction.
- VIZIO has the right to terminate the transaction within a
45-day period if, subject to the terms and conditions of the merger
agreement, VIZIO receives and accepts a “Superior Offer” as defined
in the merger agreement.
- Upon completion of the transaction, VIZIO’s Class A common
stock will no longer be publicly listed.
_____________________________________________________________________
- Due to certain transaction-related costs associated with the
acquisition, including for talent retention and technology
integration, Walmart expects the transaction to be slightly
dilutive to EPS in the near term.
- To finance the acquisition, Walmart plans to use cash and/or
debt. The transaction is not subject to a financing condition.
- IRR for this transaction is expected to be ahead of Walmart’s
reported ROI.
- Following the completion of the transaction, VIZIO’s business
will be reported as part of the Walmart U.S. segment.
About Walmart
Walmart Inc. (NYSE: WMT) is a people-led, tech-powered
omnichannel retailer helping people save money and live better -
anytime and anywhere - in stores, online, and through their mobile
devices. Each week, approximately 255 million customers and members
visit more than 10,500 stores and numerous eCommerce websites in 19
countries. With fiscal year 2024 revenue of $648 billion, Walmart
employs approximately 2.1 million associates worldwide. Walmart
continues to be a leader in sustainability, corporate philanthropy,
and employment opportunity. Additional information about Walmart
can be found by visiting corporate.walmart.com, on Facebook at
facebook.com/walmart, on X (formerly known as Twitter) at
twitter.com/walmart, and on LinkedIn at
linkedin.com/company/walmart.
About VIZIO
Founded and headquartered in Orange County, California, our
mission at VIZIO Holding Corp. (NYSE: VZIO) is to deliver immersive
entertainment and compelling lifestyle enhancements that make our
products the center of the connected home. We are driving the
future of televisions through our integrated platform of
cutting-edge Smart TVs and powerful operating system. We also offer
a portfolio of innovative sound bars that deliver consumers an
elevated audio experience. Our platform gives content providers
more ways to distribute their content and advertisers more tools to
connect with the right audience.
Forward Looking Statements
This release contains “forward looking statements” statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, as amended, that are intended to enjoy the protection of
the safe harbor for forward-looking statements created thereunder,
including Walmart management's guidance regarding the impact of the
transaction on Walmart, including the EPS impact, internal rate of
return (IRR), and potential benefits to Walmart and Walmart Connect
of the transaction, as well as statements about Walmart Connect,
including its growth and innovation. Actual outcomes or results
could differ materially from the forward-looking statements as a
result of: changes in circumstances, assumptions not being realized
or other risks, uncertainties and other factors, including
conditions to the completion of the acquisition, such as required
regulatory clearance, not being satisfied; closing of the
transaction being delayed or not occurring at all; the occurrence
of any event, change or other circumstance or condition that could
give rise to the termination of the merger agreement; Walmart and
Walmart Connect being unable to achieve the anticipated benefits of
the transaction; the acquired business not performing as expected;
Walmart assuming unexpected risks, liabilities and obligations of
the acquired business; significant transaction costs associated
with the transaction; the risk that disruptions from the
transaction will harm the parties’ businesses, including current
plans and operations; the ability of the parties to retain and hire
key personnel; potential adverse reactions or changes to business
relationships resulting from the announcement or completion of the
proposed transaction; and other factors relating to the parties’
operations and financial performance discussed in their respective
filings with the SEC. You should read this release in conjunction
with Walmart’s Annual Report on Form 10-K for the year ended
January 31, 2023, and VIZIO’s Annual Report on Form 10-K for the
year ended December 31, 2022, and each party’s subsequently filed
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. You
should consider all of the risks, uncertainties and other factors
identified above and in those SEC reports carefully when evaluating
the forward-looking statements in this release. Walmart and VIZIO
cannot assure you that the future results reflected in or implied
by any such forward-looking statement will be realized or, even if
substantially realized, will have the forecasted or expected
consequences and effects for or on our operations or financial
performance. Such forward-looking statements are made as of the
date of this release, and the parties undertake no obligation to
update such statements to reflect subsequent events or
circumstances, except as otherwise required by securities and other
applicable laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20240220854367/en/
Walmart Investor Relations contact: Steph Wissink –
ir@walmart.com Media Relations contact: Molly Blakeman – (800)
331-0085
VIZIO Investor Relations contact: Michael Marks –
ir@VIZIO.com Media Relations contact: Kelsey Markovich/Leah Polito
– VIZIO@fgsglobal.com
Walmart (NYSE:WMT)
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Walmart (NYSE:WMT)
過去 株価チャート
から 3 2024 まで 3 2025