Chinese electronics giant LeEco will not acquires USA -based TV maker Vizio as announced, the two companies said today. Bloomberg News reported earlier this month the proposed deal was being held up by tighter controls on Chinese currency outflows.
This agreement will also allow the companies to "engage in a collaborative partnership to leverage LeEco's EUI (Ecosystem User Interface) platform", - which is something we can see inside Android TV on LeEco TVs already.
Chinese regulations have been an ongoing barrier between these companies, and Variety's sources even say Vizio lost confidence in the deal "months ago". Cracking open the brick-and-mortar space in the U.S.
LeEco and Vizio will "explore opportunities" to build out the Le app and its contents into the connected CE platform distributed by Vizio. Conversely, Vizio hasn't had much of a footprint in China, and LeEco could potentially help the company to sell its TVs to Chinese consumers.
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Nick, Nigel, Zachary, and Aaron they've have been accepted into some of the top universities in the nation. Wade notes that they want to avoid putting any extra liability on their children in later years.
LeEco first announced plans to acquire Vizio in July. This property was originally planned to be an "EcoCity that houses 12,000 employees", but money issues prevented the company from following through on its plans.
"We continue to believe that there is great synergy between the two companies", the joint statement said. At the time, McGuire said he was "excited and privileged to join LeEco at such a pivotal moment in its history", but according to his LinkedIn page, McGuire stayed at LeEco for less than one year. Last month, word broke that it was looking to sell the expensive land it bought in Silicon Valley just past year because of financial problems. Vizio had been looking toward an initial public offering before the acquisition announcement and could be considering this course of action once again.
Without the acquisition, what lies in Vizio's future remains a mystery.