Hasbro has bought a majority 70 per cent share of mobile games company Backflip Studios for $112 million.
Backflip was launched back in 2009 and is behind a range of popular mobile games including Paper Toss and Dragon Vale.
The company will continue to create its own content, but will now also make games based on some of Hasbro’s biggest brands.
The Backflip management team will also continue to run the Colorado-based company.
"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."
Want to receive up to the minute licensing industry news straight to your inbox? Click here to sign up for the free Licensing.biz Daily Digest and Newsflash services. You can also follow Licensing.biz on Twitter and Facebook.