Hasbro has acquired a majority stake in the mobile gaming company Backflip Studios, creator of games including DragonVale, NinJump and Paper Toss, with a payment of $112 million. With this, Hasbro now owns 70 percent of the company, which will continue to be run by its current management team and remain based in Boulder, Colorado. 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", said Brian Goldner, President and CEO, 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.” Backflip Studios will continue to develop its own IP, as well as create mobile games featuring many of Hasbro's best-known brands.
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