Toymaker bolsters its smart technology capabilities with the acquisitions of Fuhu and Sproutling.
Mattel has acquired almost all the assets of tech company Fuhu, creator of the Nabi kids' tablet, and completed its acquisition of Sproutling, which makes health wearables for babies.
"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," says Sid Mathur, global head, strategic development, 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."
As part of the acquisitions, the companies intend to co-design and develop additional products for the Mattel portfolio of brands, using Sproutling’s technology platform. Sproutling will also continue to develop and release products under the Sproutling brand.
Mattel's interest in buying Fuhu was first reported in December.
Each company will continue to develop and release products under the Sproutling brand.
"Along with their immensely talented teams, both Fuhu and Sproutling bring world-class technology platforms to Mattel," says Mathur. "Combined with Mattel's unique strengths in manufacturing, distribution and brand development, the addition of Fuhu and Sproutling to the Mattel family of companies creates powerful new ways to bring families the best toys and baby products in the world."