Vizio Being Sold to LeEco

Will Be Operated as a Wholly Owned Subsidiary
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LeEco CEO YT Jia, VIZIO CEO William Wang at LeEco and VIZIO Press Conference in Hollywood where it was announced that LeEco had acquired VIZIO for $2 billion (Jeff Lewis/AP for LeEco)

American TV manufacturer Vizio is being sold to Chinese technology company LeEco for about $2 billion. Vizio will be operated as a wholly owned subsidiary.

Vizio CEO William Wang made the announcement at a press event in Los Angeles this morning. "As the father and founder of Vizio, I have mixed feeelings about this. But for our shareholders and employees, I know this is the right thing to do," said Wang.

The Vizio hardware and software businesses will be owned and operated as a wholly owned subsidiary of LeEco, while the Vizio data business, Inscape, will be spin off and operate as a separate, privately owned company led by Wang.

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