Chinese online entertainment and technology group LeEco has agreed to buy American smart television manufacturer Vizio in a $2 billion deal, underscoring the company’s growing ambition to penetrate the US market.
LeEco, formerly known as LeTV, said on Wednesday that it has acquired 100% of California-based Vizio plus 49% of Inscape Data Services, which collects and aggregates real-time consumer viewing data with software embedded in Vizio screens.
The takeover, due to be completed in the fourth quarter of this year, is not only one of the television industry's largest-ever acquisitions but is also LeEco chairman Jia Yueting's latest foray ...
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