One of the important aspects of a business is the company's relationship with its customers, as well as ways that the business can be more profitable. With Walmart's recent acquisition plans, the retail giant might just be able to improve both.

Vizio Acquisition

Rumors about the acquisition have been heard since last week, but it was only until yesterday that Walmart finally confirmed the deal. Vizio will cost $11.50 per share, resulting in an estimated $2.3 billion valuation. The purchase could benefit Walmart in two ways.

For one, the company could use Vizio's SmartCast Operating System to connect with its customers through television and in-home entertainment. It would certainly be easier to reach more people directly through this method with Vizio's 18 million active users.

Second would be the opportunities that could come with advertising. As reported by The Verge, the TV manufacturer has over 500 direct advertiser partnerships with the Vizio Platform Plus, which could lead to a large profit in ad sales.

Walmart's Executive VP and Chief Revenue Officer, Seth Dallaire stated that they "believe Vizio's customer-centric operating system provides great viewing experiences at attractive price points," and that there is a lot to be excited about with the acquisition.

In addition to that, the electronics company's advertising business would greatly help with the retailer's media business called Walmart Connect, which helps brands "create meaningful connections with the millions of customers" who shop at Walmart.

Vizio CEO William Wang expressed that the deal would be the ideal next chapter for the history of the company, as bringing the two companies' resources together will drive innovation, as well as deliver value to Vizio stockholders.

According to Walmart's blog post, Vizio's board of directors unanimously voted to sell along with stockholders who hold 89% of the voting power. Despite the positive response to the merger, the company can terminate the deal within 45 days if there's a "superior offer."

Read Also: Walmart Expands Drone Delivery Across Dallas-Fort Worth

Vizio's Class Action Settlement

The electronics manufacturer is still in the middle of a class action suit after customers complained that Vizio falsely advertised its 120Hz and 240Hz TVs, with the affected customers saying that the marketing was "false and deceptive."

Although the company denies any wrongdoing, it still agreed to pay a $3 million settlement as well as provide enhanced services and a limited one-year warranty to all settlement class members. Those who purchased televisions from the manufacturer from April 30th, 2014 would be eligible for the payout, as per USA Today.

If you happen to be one of the eligible customers, you can get part of the settlement by filing a claim form before March 30th. You also have the option to sue Vizio on your own, but you will have to exclude yourself from the case by February 29th.

Once you officially exclude yourself from the class action suit, you automatically forfeit any compensation or benefits you may receive from the settlement. You can also choose to do nothing and act like the class action suit never happened.

Related: Vizio Will Pay a Settlement Charge of $3 Million Over Alleged False Advertising