Hasbro Buys Majority Stake in Backflip Studios

Toy maker Hasbro has purchased a majority stake in Backflip Studios, the maker of iOS titles like DragonVale, Ragdoll Blaster, and Army of Darkness Defense. The deal, which cost Hasbro $112 million, gives Hasbro a 70 percent stake in the company, but doesn’t move Backflip’s home base or change up its management team.

Backflip founder and CEO Julian Furor said in an announcement on the company’s website, “In addition to producing original new titles and updating popular favorites, we will now have access to Hasbro’s catalog of well-known brands for future mobile development. We will proceed with our long held strategy of building a large and active network of satisfied users through compelling gameplay.”

Hasbro has been busy on the App Store lately, releasing free-to-play titles like G.I. Joe Battlefield and Transformers Legends. With this new acquisition, they don’t appear to be slowing down any time soon.

[Via Backflip Studios]