Chinese tech giant LeEco to acquire VIZIO for $2 billion

China's LeEco plans to acquire Vizio for $2 billion—a move that will create a global television powerhouse and help cement the tech giant's presence in the world's largest economy.

Tuesday's deal will "lay a great foundation for LeEcco in the U.S. and global market," LeEco founder and CEO Jia Yueting told CNBC's "Power Lunch" on Tuesday, in an interview that was translated from Chinese. 

Tuesday's news was the latest indicator of LeEco's forceful expansion into the U.S.