VTech Welcomes UK Competition & Markets Authority’s Approval of LeapFrog Acquisition
Hong Kong – VTech Holdings Limited (HKSE: 303, VTech) welcomes the United Kingdom Competition & Markets Authority's (CMA) decision to give final and unconditional approval to its acquisition of LeapFrog Enterprises, Inc. (LeapFrog). The CMA has published its view on its website that the acquisition will not lead to competition concerns.
"I am pleased that the CMA has given final approval to our acquisition of LeapFrog," said Allan Wong, Chairman and Group CEO of VTech Holdings Limited. "We have no doubt that consumers will benefit, as the acquisition will allow us to offer greater choice from our broadened portfolio of electronic learning toys."
Following the CMA's final approval, VTech will begin integrating its operations with those of LeapFrog in the United Kingdom.
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.