International. Boxlight has completed the acquisition of Cohuborate Ltd. ("Cohuba"). Based in the UK, Cohuba is a developer of touchscreen technology for the education, business and government sectors. Boxlight acquired Cohuba for an approximate sum of $1.8 million by issuing 257,200 common stock at a price of $7 per share.
"The transaction is part of our ongoing effort to complement our organic growth, with strategic acquisitions that accelerate our ability to distribute our solutions globally," said Michael Pope, President of Boxlight.
Cohuba's sales team will begin distributing Boxlight Mimio's suite of interactive classroom solutions, effective immediately, to the education market across the UK, which also includes the award-winning MimioStudio specialist classroom software. Boxlight plans to relaunch the Cohuba brand this year as its global solution for business and government, fully customized with hardware and software based on the specific needs of these sectors.
The acquisition also brings valuable talent to management with the addition of Mr. Paul Pickup – former Chief Operating Officer, as well as Andy Pennington – founder and CEO of Cohuba, former Head of Product at Promethean, Responsible for Software and Interactive Dashboards.
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