Hasbro has bought a 70% stake in Dragonvale publisher Backflip for $112m.
Dragonvale launched in 2011 and has contributed significantly to the 300 million downloads across Backflip's portfolio.
Following the deal, Backflip will continue working on new IP of its own alongside working on bringing the toy mogul's catalogue of iconic board games to the mobile world.
'The acquisition of Backflip fits perfectly into our strategy of extending our brands into all forms and formats,'
said Hasbro president and chief executive Brian Goldner. 'As mobile play continues its rapid growth, Backflip's leadership position, great games and established network of users, makes Hasbro a more meaningful participant in digital gaming.'
Backflip Studios has seen more than 300 million downloads across its current portfolio of mobile titles with its most popular title being Dragonvale. Letting players build their own dragon-based zoo and breed new types of dragon, Dragonvale launched in 2011 and is often praised for its successful monetisation strategy.
'We are thrilled to be partnering with Hasbro, whose games, toys and brands have deeply influenced generations of consumers including our own team,'
said Backflip Studios chief executive Julian Farrior. 'Backflip will continue its long held strategy of building a large network of satisfied users, though now with access to an even stronger brand catalog. Aligning our mobile games alongside such an influential portfolio and a company who has great game design baked into its DNA, positions us well for the future growth of mobile entertainment.'
Hasbro currently has a deal with EA to develop video games based on its brands including Monopoly, Risk and Scrabble. A dedicated Hasbro team falls under the publisher's Maxis label.
Going in the other direction, Hasbro also has deals with PopCap and Zynga to bring popular mobile titles away from their digital homes and into the physical board game world.