China’s LeEco to buy U.S. electronics company VIZIO for $2 billion
July 26, 2016
China’s Le Holdings Co, also known as LeEco, said on Tuesday it would buy U.S. consumer electronics company Vizio for $2 billion.
Irvine, California-based Vizio makes affordable flat screen televisions, soundbars and LCD monitors. Founded in 2002, the company is now one of the largest manufacturers of TV sets in the United States.
Vizio, which filed for an initial public offering last year, generated sales of $1.3 billion in the first six months of 2015, according to IPO documents.
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