Hasbro Purchase of Majority Interest in Backflip Studios
Hasbro Inc is a global branded play company that owned some of the world's most popular gaming brands. Today, it has announced acquisition of a majority stake in Backflip Studios. The Colorado based company developed games that include DragonVale, NinJump and Paper Toss. The acquisition of the company was valued at US$112 million. The 70% of Backflip Studios was acquired through an all cash transaction.
Backflip Studios was established in 2009 by Julian Farrior, Dale Thoms and Tom Blind. Through the years, the mobile game studios became one of the industry's fast growing and most profitable unit. In fact, the company gained more than 300 million downloads of its popularly developed games.
The Backflip management team would continue to run the firm after the completed purchase. The company would also remain in its headquarters in Boulder, Colorado. Meanwhile, the acquisition was anticipated by Hasbro Inc as it would bring neutral to slightly accretive returns to the company's 2013 financial results.