Goodwin Procter recently advised Hasbro, Inc., a global branded play company and owner of some of the world’s most popular brands, on its acquisition of a 70% interest in Backflip Studios. Hasbro paid $112 million in the all cash transaction.
Hasbro is a branded play company dedicated to fulfilling the fundamental need for play for children and families through the creative expression of the Company's world class brand portfolio, including Transformers, Monopoly, Play-Doh, My Little Pony, Magic: The Gathering, Nerf and Littlest Pet Shop. Hasbro is headquartered in Pawtucket, RI and is traded on the NASDAQ exchange under the ticker HAS.
Based in Boulder, Colo. and founded in 2009, Backflip Studios develops and publishes mobile games for iOS and Android devices. Backflip’s portfolio of top ranked games have been downloaded over 300 million times and are played by more than 30 million active users per month.
The Goodwin team advising Hasbro included partners John Egan and Danielle Lauzon and associate Ian Engstrand (Corporate); partner Steve Charkoudian and associates Ginggi Storer and Achal Oza (IPTS); partner Howard Cubell (Tax); partner Jennifer Fay (Labor and Employment); and counsel Jackie Klosek (Privacy).
Additional information regarding the transaction can be found in the Hasbro press release.