LeEco’s proposed $2 billion acquisition of Irvine-based Vizio has fallen through, the companies said Monday, citing “regulatory headwinds.”
Instead, LeEco and Vizio will work together to bring Vizio products to China.
“We continue to believe that there is great synergy between the two companies,” the joint statement said.
LeEco is a holding group for businesses controlled by billionaire Jia Yueting that span electric cars and media to smartphones and TVs. It had announced the agreement to acquire Vizio last July. The deal was intended to create a foundation for branding and acquiring U.S. customers.