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LeEco set to acquire US TV maker Vizio for $2 billion

ICE Graveyard 26/07/2016 Brian Heater

You’d be forgiven if you’re not super familiar with LeEco. The company, until fairly recently known as LeTV, isn’t exactly a household name here in the States. In its native China, however, the company is a multi-disciplined powerhouse. It has a massive video streaming service, makes TVs, smartphones and even has a car in the works.

And it’s about to get even bigger. Today the company announced its plans to buy Vizio for $2 billion. According to the plan, the California-based budget TV manufacturer’s hardware and software wing will become a subsidiary of LeEco, with Inscape, its data business spinning out on its own.

The planned acquisition appears, in part, to be an aspect of LeEco’s larger push into the US market. While the company doesn’t have a specific timeline for bringing its hardware offerings stateside, the company’s CEO, Jia Yueting (who founded the company in 2004) told CNBC that such a move is, hopefully, “not too far away.”

If the acquisition goes through as planned, it will surely be a major step in that direction.

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