LeEco is still "committed to VIZIO," i.e. its intentions to complete the acquisition of the Irvine, California-based consumer electronics manufacturer, a spokesperson for the company told TechCrunch on Wednesday. The Chinese tech giant was asked to reiterate its willingness to go through with the acquisition following a $2.2 million fine issued to VIZIO by the United States Federal Trade Commission (FTC) and the Office of the New Jersey Attorney General. On Tuesday, the TV manufacturer settled to pay the aforementioned sum after authorities found it guilty of collecting data from 11 million American households without any authorization. While it remains to be seen how big of a hit will VIZIO's brand take due to that fine, LeEco seemingly isn't particularly worried about the entire ordeal.
A spokesperson for LeEco said that the acquisition of VIZIO is still a "priority" for the Beijing-based tech giant, adding that the deal is proceeding as planned and suggesting that more information on the matter will follow soon. Given the nature of VIZIO's transgression, it's possible that the company's attempt to sell itself to LeEco may be stifled due to the fact that the transaction has yet to be approved by the authorities in the United States and China. However, LeEco's latest comment seemingly implies that won't be an issue. Regardless, VIZIO is currently facing a lot of criticism following the revelation that the company was spying on its consumers and sold their viewing habits and other information gathered by their TVs to third-party advertisers. Consumers were only able to opt out of the program which analyzed the content they were viewing by turning off the "Smart Interactivity" option of their TVs, which was a direct violation of the FTC Act, as well as some consumer protection laws of the State of New Jersey.
While the scandal earned VIZIO a lot of negative publicity and the company's brand was likely damaged by it, it seems that LeEco will still pay the previously agreed $2 billion for the acquisition, TechCrunch claims. The Chinese tech giant is expected to complete its purchase of VIZIO at some point this year, so more details on the matter are bound to be available shortly.