Published July 26, 2016 3:42pm EDT | Updated July 26, 2016 5:06pm EDT

China's LeEco To Buy Electronics Company Vizio For $2 Billion

Chinese company LeEco said Tuesday it has reached an agreement to buy privately owned Vizio for $2 billion. Vizio, based in Irvine, Calif., makes affordable flat-screen TVs and other electronics goods. The company filed for an initial public offering in July of 2015, but did not close on the deal.