China’s LeEco has agreed to acquire U.S. consumer electronics company, Vizio, for $2 billion USD, the Chinese company said on Tuesday. It comes as the Chinese internet company is seeking to expand its product line and ecosystem into the U.S.

According to a release from LeEco, Vizio offers a “steady install base of users and a brand that is both popular and successfully distributed throughout major North American retail channels.

Under the deal LeEco will operate Vizio as a subsidiary, taking responsibility for the U.S. company’s hardware business as well as their smart TV ecosystem. LeEco will own 49 percent of Vizio’s data business, Inscape, with the remaining 51 percent held by Vizio founder William Wang.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com