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LeEco Scraps Vizio Acquisition

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Apr 10, 2017, 12:11 PM   by Eric M. Zeman

LeEco today said it has canceled plans to acquire TV-maker Vizio. The company first announced the $2 billion acquisition last summer. "The merger agreement to acquire Vizio will not proceed due to regulatory headwinds," said the company in a prepared statement. "We continue to believe that there is great synergy between the two companies, and are pleased to announce that LeEco and Vizio have reached an agreement that is a win for both companies." Moving forward, Vizio has agreed to add LeEco's video apps and content to its own smart television sets. After quickly ramping up several major businesses, including TVs and smartphones, LeEco ran into cash problems and has since scaled back some of its plans. The company continues to offer the unlocked Le Pro3 and S3 to U.S. consumers online.

source: LeEco


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