HONG KONG, Dec. 11, 2016 /PRNewswire/ -- VTech Holdings Limited (HKSE: 303, VTech) welcomes the United Kingdom Competition and Markets Authority's (CMA) decision to provisionally clear its acquisition of LeapFrog Enterprises, Inc. (LeapFrog). The CMA found that the merger may not be expected to result in a substantial lessening of competition in the supply of learning toys for 0 - 5 years old, children tablets and content or future innovation in toys.
The CMA has published these provisional findings on its website. Its final decision will be made after collecting views on the provisional findings and assessing all evidence.
"I am very pleased that the CMA has provisionally cleared this merger," said Allan Wong, Chairman and Group CEO of VTech Holdings Limited. "We have always believed that the combination of VTech and LeapFrog will give consumers greater choice and ensure ongoing innovation of electronic learning toys."
VTech will continue to work closely with the CMA through the remainder of its merger enquiry.
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. For more information, please visit www.vtech.com.
For inquiries, please contact:
Head of Corporate Marketing
VTech Holdings Limited
Teneo Blue Rubicon
+44 (0) 20 7260 2700
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/uk-competition--markets-authority-provisionally-clears-merger-of-vtech-and-leapfrog-300376342.html