Hasbro has acquired a majority stake in the mobile gaming company Backflip Studios, creator of games including “DragonVale,” “NinJump” and “Paper Toss.”
Hasbro paid $112 million in cash for 70 percent of the company, which will continue to be run by its current management team and remain based in Boulder, Colo.
Hasbro expects the deal to have a neutral to slightly positive effect on its 2013 financial results, and sees the acquisition as a way to gain a stronger position in the mobile gaming sector.
"The acquisition of Backflip fits perfectly into our strategy of extending our brands into all forms and formats," says Brian Goldner, president and chief executive officer, Hasbro. "As mobile play continues its rapid growth, Backflip's leadership position, great games and established network of users makes Hasbro a more meaningful participant in digital gaming. Together with Julian, Dale and the talented team at Backflip, we will continue to take a leadership role in bringing great game play to the mobile environment."
Backflip Studios will continue to develop its own IP, as well as create mobile games featuring many of Hasbro's best-known brands. Founded in 2009 by Julian Farrior, Dale Thoms and Tom Blind, the company has more than 300 million downloads of its games which also include “Ragdoll Blaster,” “Army of Darkness Defense” and “OutWorded.”
"We are thrilled to be partnering with Hasbro whose games, toys and brands have deeply influenced generations of consumers including our own team," says Julian Farrior, chief executive officer, Backflip. "Backflip will continue its long held strategy of building a large network of satisfied users, though now with access to an even stronger brand catalog. Aligning our mobile games alongside such an influential portfolio and a company who has great game design baked into its DNA, positions us well for the future growth of mobile entertainment.”