Monday, February 1, 2016
Mattel Buys Nabi Maker Fuhu, Sproutling
El Segundo-based Mattel said late Friday that it has acquired substantially all of the assets of Fuhu, the maker of the Nabi children's tablets, as well as smart technology maker Sproutling. Financial terms of the two acquisition were not announced. Mattel said the two acquisition will help it strengthen its digital and smart technology capabilities. Fuhu--which had been one of Southern California's fastest growing businesses--had suddenly and surprisingly filed for bankruptcy in December. The company had surged to nearly $200M in revenues in developing Android based children's tablets. Sproutling is a developer of a "smart baby monitor" which attached to a baby's ankle and monitored whether a baby was awake or asleep, if they were fussy or happy, and more. An earlier report said Mattel was paying only around $9.5M for Fuhu.