LeEco's Vizio Acquisition Goes Kaput
By Angela Moscaritolo April 10, 2017 03:30pm EST LeEco tells PCMag it's backing out of the $2 billion acquisition due to 'regulatory headwinds.' Chinese smartphone maker LeEco on Monday confirmed it will no longer be acquiring US TV maker Vizio. LeEco is backing out of the $2 billion acquisition due to "regulatory headwinds," the company said in a statement to PCMag. The companies plan to continue working together, though. "We continue to believe that there is great synergy between the two companies, and are pleased to announce that LeEco and Vizio have reached an agreement that is a win for both," LeEco said. Going forward, they're planning to "explore" how they can partner to bring LeEco's app and content to Vizio's platform as well as bring Vizio products to the Chinese market. LeEco first announced plans to acquire Vizio in July. At the time, LeEco was planning to acquire all of Vizio's hardware and soft...