Summary
- Boxlight has acquired the assets of Modern Robotics for $970,000.
- Modern Robotics has created MyBot, a robotics education hardware and software system.
- BOXL has a $4 million investment deal to fund its investments in MyBot and other initiatives as it seeks to broaden its offerings.
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Quick Take
Boxlight Corporation (BOXL) announced it has acquired Modern Robotics for $970,000 in debt and Class A common stock consideration.
Modern Robotics operates as an education robotics technology company.
BOXL is pushing into a more vertical, specialty technology offering for STEM course materials and will need to leverage a new investment agreement to general better results for investors.
