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http://www.reuters.com/article/us-vizio-m-a-leeco-idUSKBN17C2MX
LeEco has scrapped a planned $2 billion acquisition of U.S. consumer electronics company Vizio due to regulatory issues, a fresh setback to the cash-strapped Chinese conglomerate's expansion drive. The deal was first announced in July, with LeEco agreeing to acquire the Irvine-based manufacturer of LCD/LED flat panel TVs. A LeEco representative cited a "Chinese policy factor" for abandoning the proposal, but declined to provide further details.
LeEco, one of China's most ambitious companies that grew from a Netflix-like video website to a business empire spanning consumer electronics to cars within 13 years, is struggling to meet its ambitions that include beating Elon Musk's Tesla Motors (TSLA.O) in premium electric vehicle making. In recent months, LeEco has faced financial troubles which founder and chairman Jia Yueting has attributed to the rapid pace of business growth, calling it a "big company disease".
(Score: 2) by DannyB on Wednesday April 12 2017, @08:06PM
LeEco found that they could partner with Vizio to get an app pre-loaded to pre-compromise the TVs. Probably also other Vizio products.
That is undoubtedly much cheaper than acquiring Vizio outright.
LeEco (Chinese company) gets malware preloaded onto Vizio TVs as well as it's own TVs. A jumping off point into a vast number of local area networks that can be explored. Some of those will either have sensitive equipment, or routers to other networks with sensitive equipment. A veritable playground.
When trying to solve a problem don't ask who suffers from the problem, ask who profits from the problem.