Walmart announced a definitive agreement to acquire VUDU, a provider of video streaming services to TVs and Blu-ray players. The deal is expected to close within the next few weeks.
"The real winner here is the customer," said Eduardo Castro-Wright, vice chairman for Walmart. "Combining VUDU's unique digitaltechnology and service with Walmart's retail expertise and scale will provide customers with unprecedented access to home entertainment options as they migrate to a digital environment."
VUDU has licensing agreements with almost every major moviestudio and dozens of independent and international distributors to offer approximately 16,000 movies, including the largest1080p library of video on-demand movies available anywhere. Via their broadband Internet connection, users have the ability to rent or buy titles and begin viewing them instantly.
VUDU will continue developing entertainment and information delivery solutions such as VUDU Apps, a platform that delivers hundreds of streaming Internet applications and services to TVs and Blu-ray players with built-in Internet connectivity.
VUDU, based in Santa Clara, Calif., will become a wholly-owned subsidiary of Walmart. The company is not disclosing financial terms of the agreement as the acquisition is not material to its first quarter earnings for fiscal year 2011.
The VUDU acquisition is strengthening Walmart's digital media delivery and enables the retail giant to compete with Amazon in this field.
Besides integrating into TVs and Blu-ray players, VUDU also offers a set top box.
Luigi Lugmayr Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at firstname.lastname@example.org.
Deion Sanders' School Opens Despite Losing Charter
Pro Football Hall of Famer Deion Sanders' Prime Prep Academy in Fort Worth, Tex. opened this week despite its location -- in a shopping center across an adult shop -- being disapproved and losing its charter.
The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.
The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.