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Finance Notes: Int'l Esports Federation Partners With Alibaba In $150M Deal

The Int'l e-Sports Federation has partnered with Alibaba Sports Group. It is a $150M investment "with the goal of legitimizing eSports." Alibaba Sports Group "entered eSports early this year with the goal of creating unique tournaments and entertainment products for the growing spectator sport industry." To achieve this, ASG "partnered with IeSF, a long-time, international federation of eSports bodies from all over the globe." ASG CEO Zhang Dazhong said that the overall goal of the partnership was to make eSports “a way of life" (ESPORTS BY INQUIRER, 7/27).

AMERICAN ACQUISITION: LeEco "has agreed to buy" California-based Vizio in the "latest investment by the rapidly diversifying Chinese online video company that now does sports, smartphones, property and even smart cars." LeEco said that it would pay $2B for Vizio, which makes smart TVs, speakers and other home entertainment hardware. LeEco Founder & CEO Jia Yueting: "Acquiring Vizio is an important step in our globalization strategy and building our North American presence." In February LeEco announced it had paid Rmb2.7B ($405M) for the first two years of broadcast rights to the Chinese Super League (FINANCIAL TIMES, 7/27).

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