PAWTUCKET – Hasbro Inc. (NYSE: HAS) has completed its acquisition of privately-held games developer Cranium Inc. The deal – valued at about $77.5 million – closed on Friday, Hasbro said.
Under the agreement announced Jan. 4, the Seattle-based company will become a Hasbro subsidiary. The money paid by Hasbro is to be divided between repayment of Cranium’s outstanding debt and payments to the game company’s shareholders. (READ MORE.)
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Cranium is the creator of family games including Cranium, Balloon Lagoon, Cadoo, Cariboo, Hullabaloo, Whoonu, Wow and Zooreka, all of which “will now join such timeless classics as Monopoly, Clue, Scrabble and Trivial Pursuit as part of Hasbro’s games portfolio,” the Pawtucket company said in its after-market announcement.
Since its founding, Cranium has sold more than 22 million games, books and toys. Its products are available in more than 10 languages and 30 countries.
Hasbro Inc. (NYSE: HAS) – the world’s second-largest toymaker – designs, manufactures and markets games and toys under brands including Playskool, Tonka, Milton Bradley, Parker Brothers, Tiger and Wizards of the Coast. Additional information is available at www.hasbro.com. Information about Cranium Inc. is available at www.cranium.com.
