Hasbro Inc. acquires majority stake in Backflip Studios
In continuing their efforts to bring quality gaming experiences to mobile devices based on their many popular and recognizable brands, Hasbro, Inc. has announced today their acquisition of a large majority stake in developer Backflip Studios. All be told, Hasbro has dished out $112 million for 70% control of the company, who made a name for themselves in the mobile games industry with such successful titles as DragonVale, NinJump, and Paper Toss.
As part of the purchase agreement, Backflip Studios will continue to operate under the same management team in their Colorado studio, as well as continue to develop their own unique IPs: the only difference is now they'll also be splitting their time making new games based on popular Hasbro brands.
Brian Goldner, President and CEO of Hasbro, has stated in light of this announcement, "The acquisition of Backflip fits perfectly into our strategy of extending our brands into all forms and formats." Backflip seems to fully return the excitement, with CEO of Backflip Studios, Julian Farrior, adding "We are thrilled to be partnering with Hasbro, whose games, toys and brands have deeply influenced generations of consumers including our own team."