Hasbro Drops $112M On Mobile Developer Backflip Studios

Law360, New York (July 8, 2013, 6:29 PM EDT) -- Board game icon Hasbro Inc. has purchased a majority share in mobile game developer Backflip Studios for $112 million, the companies announced Monday, in a deal that will bring brands like Monopoly and Transformers into the mobile market.

In a transaction overseen by Goodwin Procter LLP, Hasbro paid $112 million in cash for a 70 percent stake in the developer, which boasts more than 300 million downloads of its games including DragonVale, NinJump and Paper Toss.

"The acquisition of Backflip fits perfectly into our strategy of...
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