VTech Buys LeapFrog (LF) for $72 Million

VTech is buying LeapFrog (NYSE:LF) for $72 million.

VTechThe educational entertainment company — known for making educational toys for children — said Friday it has agreed to be acquired by rival VTech.

Both companies make tablets and electronic toys for pre-school and early elementary school-aged children. LeapFrog’s products include LeapPad devices, which take different cartridges with games and activities.

Chairman Bill Chiasson said the deal  “will be instrumental to helping the LeapFrog brand achieve the mission of helping each child achieve their potential. Importantly, too, this transaction also rewards our shareholders with a significant premium from recent trading levels.”

The deal caused LF stock to soar an astonishing 71.2% Friday.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/02/vtech-leapfrog-lf/.

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