Mattel has acquired all assets of Fuhu, which makes hi-tech products for children and families, and has completed the acquisition of Sproutling, a maker of wearable sleep sensor for babies.
“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,” Sid Mathur, Global Head of Strategic Development and M&A at Mattel, said in a statement. “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.”
El Segundo, Calif.-based Fuhu is best known for its Nabi brand of products, including the Nabi Compete activity tracker we’ve covered in the past. On the other hand, San Francisco-based Sproutling has developed a wearable sensor that help parents monitor babies.
With two startups under its belt, Mattel hopes to create “powerful new ways to bring families the best toys and baby products in the world.” Sounds like a plan.