Hasbro Buys Majorty Stake in Mobile Games Developer

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Games company Hasbro has announced the acquisition of a majority stake in the mobiel apps developer Backflip Studios. The Boulder Colorado based company develops some of the mobile industry's most popular games including DragonVale NinJump and Paper Toss.

Founded in 2009 by Julian Farrior, Dale Thoms and Tom Blind, Backflip Studios has seen more than 300 million downloads of its games.

Hasbro paid USD112 million in an all cash transaction for 70% of the company.

Backflip will continue to develop its own IP, as well as create mobile games featuring many of Hasbro's own brands. As part of the transaction, Backflip's management team will continue to run the company, which will remain in Boulder.

"The acquisition of Backflip fits perfectly into our strategy of extending our brands into all forms and formats," said Brian Goldner, President and CEO of 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."

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