Mattel Bolsters Digital And Smart Technology Capabilities With Acquisition of Sproutling
EL SEGUNDO, Calif., Jan. 29, 2016 /PRNewswire/ — Mattel, Inc. (NYSE: MAT) announced that it today acquired substantially all the assets of Fuhu, Inc., a developer of high technology products for children and families. In addition, the company announced it has completed the acquisition of Sproutling, Inc., a maker of smart technology products for parents and families.
“Mattel’s mission is to be the recognized leader in play, learning and development worldwide, and our acquisitions of both Fuhu and Sproutling represent a meaningful step toward achieving that goal,” said Sid Mathur, Global Head of Strategic Development and M&A at Mattel. “These acquisitions strengthen our digital and smart technology capabilities, and they create ample opportunities to develop and bring to market new technology-enabled play and learning products, based on Mattel’s established portfolio of global consumer brands for children and families.”
Sproutling is a smart technology company that creates thoughtfully designed products to help parents, children and families thrive. With offices in San Francisco, Calif., Sproutling will continue to develop and release products under the Sproutling brand. In addition, the companies intend to co-design and develop additional products for the Mattel portfolio of brands, using Sproutling’s technology platform.Read the full article on Mattel (NASDAQ: MAT)