LeEco $2 billion acquisition of Vizio

Overview:

• China-based LeEco has acquired consumer electronics producer Vizio in a $2 billion deal.
• Vizio's hardware and software businesses will be wholly owned by LeEco and its subsidiaries, while its data business Inscape will be spun off.
• The transaction is expected to close in Q4, 2016.
• The acquisition is part of LeEco's globalisation strategy. The deal will help LeEco build its North America presence.
• Latham & Watkins (Scott Shean, David Lee, Jason Bosworth, Les Carnegie, Douglas Greenburg) advised Vizio.
• Skadden Arps Slate Meagher & Flom (Julie Gao, Will Cai, Michael Mies and Michael Gisser) advised LeEco.

Wai Yee Tsang - Journalist - Asia-Pacific