Friday, August 23, 2019

Sphero Buys LittleBits

Boulder-based Sphero, the developer of robotic toys, has acquired another educational robot maker, Littlebits, the said on Friday. Financial terms of the acquisition were not announced. Both companies are backed by Boulder's Foundry Ventures. According to Sphero, the move will make it the largest player in its market", and give it a total of over 150 patents in the robotics, electronics, software, and Internet-of-Things area. Sphero, which is led by CEO Paul Berberian, has recently been focused on selling its robots into the education and STEAM market, which is also where littleBits plays. Sphero said it will use the acquisition to accelerate international growth and acquire other products and companies to further expand its portfolio of STEAM products and tools. ittleBits founder Ayah Bdeir will not be joining Sphero with the acquisition.