Purple Innovation completed the acquisition of Intellibed for $25m.

Purple Innovation, a mattress manufacturer, completed the acquisition of Intellibed, a mattress manufacturer, for $25m. "Intellibed is an excellent fit for Purple. Intellibed has licensed certain aspects of our gel technologies for many years, therefore this acquisition allows us to consolidate our IP under one roof while at the same time enhancing Purple's manufacturing capabilities and financial profile. Additionally, Intellibed's premium market position allows Purple to accelerate its product development schedule by several years and immediately address the more luxury, higher-margin segment of the sleep and wellness industry. We are excited about the combined potential of our two organizations," Rob DeMartini, Purple Innovation CEO.