LeEco today announced plans to acquire Vizio for $2 billion. LeEco is a China-based TV, content, and phone maker, while Vizio is a U.S.-based TV maker.
LeEco has been increasing its presence in the U.S. since early this year and the acquisition gives it an instant footprint in the U.S. electronics market. Vizio will operate as a wholly-owned subsidiary from its existing Southern California location. Vizio’s data business will be spun off as a separate entity, with current Vizio CEO William Wang maintaining a controlling share.
LeEco expects to complete the transaction during the fourth quarter.
