LeEco acquires VIZIO to build North American presence

LeEco and VIZIO announced today a definitive agreement under which LeEco would acquire VIZIO for $2 billion.

The VIZIO hardware and software businesses will be owned and operated as a wholly owned subsidiary of LeEco, while the VIZIO data business, Inscape, will spin out and operate as a separate, privately owned company.

“LeEco believes in breakthrough technologies, a complete ecosystem and disruptive pricing. Acquiring VIZIO is an important step in our globalization strategy and building our North American presence,” said Yueting Jia, founder, chairman and CEO, LeEco...Read More