Asia Express - Display
LeEco Acquires Vizio for US$2 Billion
July 27, 2016

Chinese online TV and e-commerce conglomerate LeEco, formally known as LeTV, announced the acquisition of US-based TV manufacturer Vizio for US$2 billion on July 26, making a foray into the US streaming TV market, reported Taiwan's Central News Agency. While Vizio will keep its brand, management teams, customer services, and corporate culture as a wholly-owned subsidiary company to LeEco, its software and hardware businesses will be run by the parent company. After the acquisition, LeEco's flat TV ecosystem will have over 28 million smart TV user base. LeEco is expected to finalize the takeover in the fourth quarter this year.