UK Competition & Markets Authority’s Investigation into Acquisition of LeapFrog
Hong Kong – VTech Holdings Limited (HKSE: 303) today announced that the Company received a request for information ("RFI") and an Initial Enforcement Order ("Order") from the United Kingdom Competition & Markets Authority ("CMA") on 27 April 2016, in relation to the acquisition of LeapFrog Enterprises, Inc.
The RFI and Order were issued at the initiative of the CMA who intends to investigate whether the merger has resulted or may be expected to result in a substantial lessening of competition in the UK market.
The Company has acknowledged the RFI and the Order and is fully cooperating with the CMA.
VTech is the global leader in electronic learning products from infancy to preschool and the world's largest manufacturer of cordless phones. It also provides highly sought-after contract manufacturing services. Founded in 1976, VTech has been a pioneer in the electronic learning toy category with cutting-edge and innovative products that provide fun and learning to children across the world. By leveraging decades of success, VTech provides a diverse collection of telecommunication products that elevate the consumer experience with state-of-the-art technology and design. The Group is also one of the world's leading electronic manufacturing service providers, offering world-class, full turnkey services to customers in a number of product categories. The Group's mission is to design, manufacture and supply innovative and high quality products in a manner that minimises any impact on the environment, while creating sustainable value for its stakeholders and the community.