Hong Kong's VTech agrees to buy LeapFrog for $72 mln

VTech Holdings

05/02/2016 14:36

Feb 5 (Reuters) - Hong Kong-based VTech Holdings Ltd 
 0303.HK  said it would buy U.S. toymaker LeapFrog Inc  LF.N  
for about $72 mln.  
    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 the combined company would be 
renamed as LeapFrog.  urn:newsml:reuters.com:*:nHKS5Xqw0L 
    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. (http://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".  urn:newsml:reuters.com:*:nPnrd5tl 
 
 (Reporting by Abhijith G in Bengaluru; Editing by Anil D'Silva) 
 ((Abhijith.G@thomsonreuters.com;)) 
 
Keywords: LEAPFROG ENTRPRS M&A/VTECH