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VTech to acquire LeapFrog

Educational gaming companies enter merger agreement

Educational companies VTech Holdings and LeapFrog Enterprises have entered into a merger agreement which when completed will see VTech acquire LeapFrog.

"We are delighted to have the LeapFrog brand joining VTech, bringing together two of the great names in children's learning and entertainment," said group CEO of VTech Holdings Allan Wong.

"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 enhance the education and development of children across the world, while bringing them fun and joy."

In the deal VTech will acquire 100% of the outstanding common stock of LeapFrog through an all cash tender offer followed by a second-step merger and offer LeapFrog investors $1 per Class A and Class B share. The total purchase consideration amounts to around $72 million.

"We believe this is a terrific opportunity for our employees, customers, and shareholders," added Bill Chiasson, the Chairman of LeapFrog's Board of Directors.

"The acquisition and future investment by VTech 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."

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