Hasbro Buys 70% In Backflip Studios For $112 Million
Hasbro Inc., a toy and board game company, has acquired a 70% stake in Backflip Studios for $112 million in cash. Backflip Studios is known for developing the games Dragonvale, Paper Toss, and NinJump. Backflip Studios was founded in 2009 by Julian Farrior, Dale Thoms, and Tom Blind.
Backflip Studios started in 2009 and has not raised any outside funding in the past. Their apps have been downloaded a total of 300 million times. Dragonvale is known for ranking in the top 20 highest grossing games on iOS in the U.S. despite being released around two years ago.
Backflip will continue to develop their own games, but they will also create games under the Hasbro brand including Monopoly, Magic: The Gathering, and My Little Pony.
The $112 million-70% deal values Backflip Studios at $160 million. Backflip is based in Boulder, Colorado.