Hasbro (HAS), owner of popular brands such as Transformers, Magic: The Gathering and My Little Pony, made an effort to increase its mobile presence today.
Hasbro spent $112 million in cash to obtain a 70% stake in Backflip Studios, which developed mobile games DragonVale, NinJump, and Paper Toss.
“The acquisition of Backflip fits perfectly into our strategy of extending our brands into all forms and formats,” Brian Goldner, Hasbro CEO, told PC Magazine.
Founded in 2009 by Julian Farrior, Dale Thoms and Tom Blind, Backflip Studios will continue to develop its own IP, and will make games featuring Hasbro’s brands.
Backflip titles having been downloaded more than 300 million times, reports PC Magazine.