LeTV Spends $ 2 billion to acquisition Vizio US the second biggest TV manufacture

LeTV Spends $ 2 billion to acquisition Vizio US the second biggest TV manufacture

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LeTV has announced that spending $ 2 billion to purchase the US top smart TV manufacture Vizio, which means LeTV firm occupies a large part of the share in the US TV market in the twinkling of an eye.

After the completion of the acquisition transction, LeTV will regard Vizio as an independent subsidiary to operate.

For the Viziao management team, the current plan is to continue working in the office located in Southern California.

At the same time, the Vizio’s data service Inscape will be turned into a privately held company, the Vizio current CEO William Wang served as chairman and CEO.

LeTV global capital senior vice president introduced, the acquisition of the entity is LeEco Global, to be the subsidiary of the holding, belonging to a parallel relationships with LeTV net.

Zheng Xiaoming also said that LeEco Global will be available in the USA in the future. The acquisition was completely by all –cash method, in which of the funds come from within. Due to the acquisition can increase the asset –liability ratio, so LeTV will equity financing in a short-term.

By the sales volume, Vizio is the second biggest TV maker in the US  at present, which is next to Samsung. The headquarter of Vizio is located in the Southern California Gulf, established by William Wang in 2002.
The CEO Jia Yueting said: We bring to the US users just not only L+V, but also bring the Internet ecosystem model to create a free-following ecological life.

Jia Yueting also indicated that LeEco ecology will be fully landed in the US two months later.  Let’s Share the Eco World.

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