Chinese electronics giant LeEco buys Vizio for $2 billion

By Shawn Knight ยท 7 replies
Jul 26, 2016
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  1. Chinese electronics maker LeEco is quickly making a name for itself in 2016. After beating Apple to the punch by releasing a smartphone without a 3.5mm jack and positioning itself as one of the frontrunners for Qualcomm’s upcoming Snapdragon 823 SoC, the company made another big move in acquiring TV maker Vizio for $2 billion.

    The US-based budget TV builder announced the deal earlier today at a press event in Los Angeles.

    As per the deal, Vizio will more or less continue its day-to-day operations out of California as usual, acting as a subsidiary of LeEco.

    Vizio founder and CEO William Wang, however, will be leaving the company… sort of. Inscape, Vizio’s data business, will be spun off into a privately held company in which LeEco will own 49 percent of. Wang will serve as chairman and CEO of Inscape where he will retain a controlling 51 percent stake.

    During the press event, Wang said he had mixed feelings about the deal. As the owner and father of Vizio, he said, he is very reluctant to let it go. But as the CEO and owner of the company, he continued, this is the right decision to make for the hardworking employees and loyal shareholders.

    The two companies expect the deal to close sometime during the fourth quarter of this year pending regulatory approval.

    Permalink to story.

  2. MoeJoe

    MoeJoe TS Guru Posts: 711   +381

    Surprised it lasted this long as it did, as an American television company.
    Last edited: Jul 27, 2016
  3. texasrattler

    texasrattler TS Addict Posts: 253   +77

    Vizio isn't a American company, they just moved to California years ago when they were becoming big. Just their headquarters moved their, Vizio isn't made in America.
  4. mizkitty

    mizkitty TS Enthusiast Posts: 44   +11

    Interesting that Wang wanted to retain control of the TV tracking side of the business...
  5. bluto 2050

    bluto 2050 TS Addict Posts: 270   +33

    Right and Vizio doesn't manufacture the product, TPV, which has or had a ~ 25% stake in Vizio and Compal and Wistron OEM's make most of the products anyway ,the Calif facility is just some design /engineering and corporate offices but for all I know they could be paying the OEM channel to be doing the brunt of product design/engineering anyway all these companies are more than capable of all that .
  6. MoeJoe

    MoeJoe TS Guru Posts: 711   +381

    Everybody knows that.

    Learn to read.
  7. MoeJoe

    MoeJoe TS Guru Posts: 711   +381

    "As of 2012, Vizio had over 400 employees.[4] About half work at its headquarters in Irvine, California, in engineering, design, sales, and operations, while the other half are employed at a call center in Dakota Dunes, South Dakota.[4][5]"

    Wikipedia is your friend. I suggest using it.
    Last edited: Jul 28, 2016
  8. texasrattler

    texasrattler TS Addict Posts: 253   +77

    LOL wiki ... Vizio was never a American company, ever.

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