EL SEGUNDO, Calif., Jan. 29, 2016 /PRNewswire/ -- Mattel, Inc. (NYSE: MAT) announced that it today acquired substantially all the assets of Fuhu, Inc., a developer of high technology products for children and families. In addition, the company announced it has completed the acquisition of Sproutling, Inc., a maker of smart technology products for parents and families.
"Mattel's mission is to be the recognized leader in play, learning and development worldwide, and our acquisitions of both Fuhu and Sproutling represent a meaningful step toward achieving that goal," said Sid Mathur, Global Head of Strategic Development and M&A at Mattel. "These acquisitions strengthen our digital and smart technology capabilities, and they create ample opportunities to develop and bring to market new technology-enabled play and learning products, based on Mattel's established portfolio of global consumer brands for children and families."
Fuhu, Inc. is a leading designer, seller and innovator of high-tech consumer products, services and solutions for children and families. Best known for its nabi® brand of products, Fuhu's award-winning technologies enable innovative learning systems and trans-media entertainment solutions that give content creators the ability to publish and distribute premium content ubiquitously across multiple channels and platforms.
Sproutling is a smart technology company that creates thoughtfully designed products to help parents, children and families thrive. With offices in San Francisco, Calif., Sproutling will continue to develop and release products under the Sproutling brand. In addition, the companies intend to co-design and develop additional products for the Mattel portfolio of brands, using Sproutling's technology platform.
"Along with their immensely talented teams, both Fuhu and Sproutling bring world-class technology platforms to Mattel," continued Mr. Mathur. "Combined with Mattel's unique strengths in manufacturing, distribution and brand development, the addition of Fuhu and Sproutling to the Mattel family of companies creates powerful new ways to bring families the best toys and baby products in the world."
The Mattel family of companies (Nasdaq: MAT) is a worldwide leader in the design, manufacture and marketing of toys and family products. Mattel's portfolio of best-selling brands includes Barbie®, the most popular fashion doll ever produced, Hot Wheels®, Monster High®, American Girl®, Thomas & Friends®, Fisher-Price® brands and MEGA® Brands, as well as a wide array of entertainment-inspired toy lines. In 2015, Mattel was named one of the "World's Most Ethical Companies" by Ethisphere Magazine and in 2014 ranked No. 5 on Corporate Responsibility Magazine's "100 Best Corporate Citizens" list. With worldwide headquarters in El Segundo, Calif., Mattel's companies employ approximately 31,000 people in 40 countries and territories and sell products in more than 150 nations. Visit us at www.mattel.com, www.facebook.com/mattel or www.twitter.com/mattel.
SOURCE Mattel, Inc.