NEWS

VTech acquires LeapFrog in $72m deal

Published on: 5th February 2016

A statement has been released which states that VTech and Leapfrog have entered into a merger agreement.

VTech-480

Hong Kong-based VTech Holdings Ltd (0303.HK) said it would buy U.S. toymaker LeapFrog Inc (LF.N) for about $72 million.

VTech’s offer of $1 per share represents a 78.5 percent premium to LeapFrog’s Thursday’s close of $0.56.

The electronic toymaker said LeapFrog would become its indirect wholly-owned unit.

VTech, which sells children’s tablets, electronic learning toys and baby monitors, had disclosed in November that it had been hacked that led to customer data being compromised. (reut.rs/1K2CigT)

Emeryville, California-based Leapfrog had reported lower-than-expected second-quarter sales in November and said it expected its 2016 sales to “contract considerably”.

 

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