Boxlight Announces Acquisition of Modern Robotics
March 14 2019 - 9:00AM
Business Wire
Expands Proprietary STEM Solutions to
Programming and Robotics
Boxlight Corporation (Nasdaq: BOXL), a leading provider of
interactive technology solutions for the global education market,
today announced it has completed the acquisition of Modern
Robotics, Inc. (“Modern Robotics”), a Science, Technology,
Engineering and Math (STEM) education company with programing and
robotics solutions for the K-12 education market.
Modern Robotics are the developers of MyBot, a powerful and
innovative K-12 ecosystem and robotics program that helps students
from pre-school to high school develop skills and a passion for
programming and robotics. Through the cohesive software platform
and innovative robots, educators receive an out-of-the-box
solution, complete with a robust curriculum, STEM lessons,
tutorials and videos.
“We are excited to expand our offerings in the red-hot field of
STEM and robotics learning,” said Mark Elliott, CEO of Boxlight.
“MyBot was conceived and developed to fulfill a need in robotics
and coding in the classroom. By bringing these cutting-edge
teaching tools to educators, we help them engage today’s students
in meaningful learning experiences that will create graduates who
are workplace ready in emerging STEM fields including software,
robotics and technology.”
Over the next 12 months, it’s expected that Boxlight will
produce over $2 million in robotics and programming revenues with
gross profit margins greater than 50 percent. The acquisition also
brings significant management talent to Boxlight by adding Modern
Robotics’ current CEO Stephen Barker, who will fill the role of
Vice President, STEM Education. Barker has more than 30 years of
extensive experience in robotics and technology innovation,
including developing sensors and components for Lego Robotics, and
brings an incredible wealth of brain trust to Boxlight’s growing
STEM offerings.
“We developed these robotics and coding tools to fulfill a need
in education – to create more meaningful, hands-on learning
opportunities in STEM for both teachers and students, and to make
coding and robotics cool and not complex,” stated Barker. “Now with
Boxlight, we can take these products to the next level and
distribute them on a global scale. We’ll engage a whole new
generation of students with our products - which in the end will go
a long way in helping prepare students for a myriad of STEM careers
and the general workforce of the future.”
About Boxlight Corporation: Boxlight Corporation (Nasdaq:
BOXL) (“Boxlight”) is a leading provider of technology solutions
for the global learning market. The company aims to improve
learning and engagement in classrooms and to help educators enhance
student outcomes, by developing the products they need. The company
develops, sells, and services its integrated, interactive solution
suite including software, classroom technologies, professional
development and support services. For more information about the
Boxlight story, visit http://www.boxlight.com.
Forward Looking Statements: This press release may
contain information about Boxlight’s view of its future
expectations, plans and prospects that constitute forward-looking
statements. Actual results may differ materially from historical
results or those indicated by these forward-looking statements
because of a variety of factors including, but not limited to,
risks and uncertainties associated with its ability to maintain and
grow its business, variability of operating results, its
development and introduction of new products and services,
marketing and other business development initiatives, competition
in the industry, etc. Boxlight encourages you to review other
factors that may affect its future results in Boxlight’s filings
with the Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20190314005468/en/
MediaCharlotte AndristNickel Communications+1
770-310-5244charlotte@nickelcommpr.com
Investor RelationsMichael Pope, Boxlight Corporation+1
360-464-4478michael.pope@boxlight.com
or
Stephen HartHayden IR+1 917-658-7878BOXL@HaydenIR.com
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