Walmart buys Vudu
Walmart has reportedly purchased Vudu, the Hollywood video streaming service accessible from most major home theater hardware. Vudu, which used to produce its own set-top box, began to offer its software to major home theater manufacturers late in 2009 and as of now, only Panasonic and Sony haven't incorporated the fairly popular service. Though it was never profitable, Vudu did raise $60 million in venture capital and was apparently purchased for around $100 million.
Walmart likely made the acquisition to complement its leadership in DVD sales. While the company has attempted to introduce a movie and music download service in the past, it never caught on. The Vudu purchase is an attempt to cover this weak spot and to help sell more internet-connected home theater products.
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Posted by Justin Davey at February 22, 2010 6:35 PM