China’s LeEco bets $2 billion on global potential of Irvine TV maker VIZIO
By Paresh Dave
July 26, 2016
As television maker Vizio Inc. prepared to go public late last year, fears about the Chinese economy turned the stock market sour.
Vizio halted its plan — but the temporary pause gave the Chinese technology company LeEco time to make a pitch to the Irvine firm.
Discussions stretching over six months and at least four cities on two continents culminated Tuesday in a joint announcement that LeEco would buy Vizio for $2 billion in cash, the latest major success story for Southern California's technology start-up sector.
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