OUT OF THE BOX: Boxlight Corporation, a publicly-traded company best known for its “Mimio” line of interactive displays and school hardware, has acquired Cohuborate, a developer of touchscreen technology based in the United Kingdom. The transaction was valued at approximately $1.8 million through the issurance of 257,200 shares of common stock at $7 per share.
“Effective immediately,” according to the deal announcement, “the Cohuba sales team will begin distributing Boxlight’s Mimio interactive classroom solution suite [...] to the education market throughout the United Kingdom.”
Cohuba executives Paul Pickup and Andy Pennington—both previously at Promethean, a U.K. provider of school display technology that was acquired by Chinese company NetDragon for $130 million in 2015, will be joining Boxlight. Shares of the Lawrenceville, Ga.-based company jumped more than 70 percent after the deal was announced.
