July 28, 2016
California-based LeEco and VIZIO, Inc. have announced a definitive agreement under which LeEco will acquire VIZIO, Inc. for US$2 billion. Under the agreement, VIZIO’s hardware and software businesses will be owned and operated as a wholly-owned subsidiary of LeEco, while VIZIO’s data business, Inscape, will spin out and operate as a separate, privately owned company. The transaction is expected to close during the fourth quarter of 2016 and is subject to customary closing conditions. Latham & Watkins represents VIZIO in the transaction with a corporate team led by partners Scott Shean and David Lee in the firm’s Orange County office. Advice has also been provided on tax matters by partner Samuel Weiner; on employee benefits and compensation matters by partners David Taub and Michelle Carpenter in Los Angeles, and counsel Maj Vaseghi in Silicon Valley; on finance matters by partner Jason Bosworth in Los Angeles; on intellectual property matters by counsel David Kuiper in Orange County; on real estate matters by partner Hilary Shalla in Orange County; on environmental matters by partner Christopher Norton in Orange County; on privacy matters by partner Jennifer Archie in Washington, D.C.; on litigation matters by partner Michele Johnson in Orange County; on antitrust matters by partner Jason Cruise in Washington, D.C., on regulatory matters by partners Les Carnegie and Douglas Greenburg in Washington, D.C; and on China-related matters by partners David Blumental in Hong Kong, Rowland Cheng in Shanghai and Allen Wang in Beijing.