Hasbro acquires majority share in DragonVale developer

Tuesday, 9 July 2013 02:07 GMT By Brenna Hillier

Toy manufacturer Hasbro has spent $112 million to acquire a 70% majority stake in mobile developer Backflip Studios. The Colorado company is best known for DragonVale, but is also behind Ragdoll Blaster and Paper Toss. GamesIndustry reports Blackflip is generating nearly $100 million in revenue annually, mostly from iOS games. Despite how much Hasbro ponied up, it expects the deal to have either no or a positive effect on its annual balance sheet.