Cloud b: Edison Nation acquires children's sleep products company Cloud b

Edison Nation Inc (NASDAQ:EDNT) is moving into the children's sleep products market via its latest acquisition. The product development company acquired Cloud b Inc, a manufacturer of products and accessories designed to help children sleep. As per the terms, Edison Nation is acquiring 72.5% of Cloud b, making it a subsidiary of the company. The monetary terms of the deal were not disclosed. Cloud b's most well-known product may be Twilight Turtle, a plush turtle that projects a starry night sky onto walls and ceilings. It was a winner of the Toy of the Year award. "We look forward to integrating our proprietary product development expertise to manufacture and market Cloud b's existing products, while also helping to develop exciting new product lines," said CEO Chris Ferguson in the company's press release. Shares of the Pennsylvania-based company jumped more than 1.5% to $6.40 in Wednesday morning trading. Contact Lenore Fedow at lenore@proactiveinvestors.com Follow her on Twitter: @LenoreMariee