Pioneering Internet Ecosystem Company LeEco Acquires VIZIO for $2B
- LeEco has agreed to purchase VIZIO for $2 billion
- VIZIO hardware and software businesses will be wholly owned subsidiaries of LeEco
- VIZIO executive management team will continue to operate as an independent subsidiary
LeEco and VIZIO, Inc. announced today a definitive agreement under which LeEco would acquire VIZIO, Inc. for $2 billion USD. 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.
Recently named one of Fast Company’s 2016 “Most Innovative Companies,” LeEco is a leading global company that provides breakthrough experiences through an open, integrated ecosystem enabled by its Internet and cloud platform. LeEco develops intelligent hardware that serves as the interface to connect individuals, interact with them and to enrich their lives through premium content and applications.