Walmart has closed its $2.3 billion all-cash acquisition of smart television maker Vizio. The deal increases the retail giant’s media clout, signaling an expansion of its video-based advertising efforts and interest in content-based marketing. “The acquisition of Vizio and its SmartCast operating system allows Walmart to serve its customers in new ways to enhance their shopping journeys,” Walmart said in concluding the deal, initiated in February. Walmart’s media efforts to date have focused around Walmart Connect, which works with brands to position ads across Walmart.com and in the company’s U.S. stores.

“Walmart and Vizio will continue to operate separately ‘for the foreseeable future,’” with William Wang continuing to lead Vizio as CEO, “reporting to Seth Dallaire, executive VP and chief growth officer of Walmart U.S.,” Variety reports, adding that the company’s long term strategy is “to integrate Vizio’s ad business with Walmart Connect.”

In a news announcement Walmart said the closing “follows the expiration of the waiting period under federal regulations.”

The Verge emphasizes that Platform Plus, the smart TV manufactuer’s advertising and data division “accounts for all the company’s gross profit,” anticipating “all that data will be a boon for Walmart’s growing advertising business, which has already started leveraging shopper information to target ads on Disney Plus and Hulu.”

The move is also likely to pave the way for “more opportunities for Walmart to sell more ads on Vizio TVs in stores, something it talked about expanding earlier this year, and maybe even stick ads on the Vizio TVs in people’s living rooms,” according to The Verge.

Walmart and Vizio announced the acquisition in February, “noting at the time that Vizio had seen 400 percent growth in active accounts since 2018, with more than 18 million active accounts and a growing advertising business,” writes PYMTS, which says the plans prompted some privacy and antitrust groups to ask the FTC and Department of Justice to scrutinize the merger, “citing concerns that the deal could intensify issues surrounding market concentration, data hoarding and consumer privacy.”