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China's LeEco buys Vizio in a $2 billion deal

Engadget Engadget 26/07/2016 Richard Lawler
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Today at an event in Los Angeles, Vizio announced that it will sell to China's LeEco (formerly LeTV) for $2 billion. Don't expect to see much change on store shelves, as the company plans to continue operating under the Vizio name as a wholly-owned subsidiary. The only exception to this is its viewer data business Inscape -- we learned about it last year when Vizio filed plans for a now-unnecessary IPO -- which will spin off and operate as a separate privately-owned company, controlled by Vizio founder William Wang.

Wang started Vizio fourteen years ago and rapidly built it into one of the largest TV companies by selling flat panel TVs at a lower price than the competition. Now LeEco is acquiring the company and gaining a foothold in the US market, as it also pursues markets like electric vehicles and smartphones.

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