Hasbro (HAS) Pays $112M for Stake in Backflip Studios

Hasbro, Inc. (NASDAQ: HAS) today announced the acquisition of a majority stake in Backflip Studios. The Boulder, Colorado based company develops some of the mobile industry's most popular games including DragonVale, NinJump and Paper Toss. Hasbro paid $112 million in an all cash transaction for 70% of the company.

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