VTech to acquire children’s technology and education company LeapFrog
VTech, a global leader in cordless telephones and electronic learning products, announced that they will acquire, LeapFrog Enterprises, a leading developer of educational toys and entertainment for children.
The merger brings the Hong Kong and US-based companies together to help streamline the children’s product/content continuum, a highly competitive marketplace that includes Apple, Amazon, Asus and more.
According to YouthBeat data in 2014, 68 per cent of children ages 6 to 13 have a tablet in the home with 32 per cent personally owning their tablet. 83 per cent of children in that same age range use/download apps.
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"We are delighted to have the LeapFrog brand joining VTech, bringing together two of the great names in children's learning and entertainment," said Allan Wong, Chairman and Group CEO of VTech Holdings Limited. "VTech has been a pioneer in the electronic learning toy category for 35 years. The acquisition will allow us to offer the broadest portfolio of products that enhances the education and development of children across the world, while bringing them fun and joy.”
The tender offer has not yet commenced, but terms of the deal note that VTech plans to acquire 100 per cent of the outstanding common stock of LeapFrog through an all cash tender offer, followed by a second-step merger.