Hasbro Buys 70 Percent Stake in DragonVale Maker Backflip

Toy maker Hasbro — the creator of your childhood — now holds a 70 percent stake in mobile gaming firm Backflip Studios.

The owner of some of the world's most popular brands — Monopoly, Play-Doh, My Little Pony, Magic: The Gathering — Hasbro just paid $112 million in cash for a majority stake in the Boulder, Colo.-based company, which boasts titles like DragonVale, NinJump, and Paper Toss.

"The acquisition of Backflip fits perfectly into our strategy of extending our brands into all forms and formats," Hasbro CEO Brian Goldner said in a statement. "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."

Founded in 2009, Backflip now boasts more than 300 million downloads of its titles, which also include Ragdoll Blaster, Army of Darkness Defense, and OutWorded.

"We are thrilled to be partnering with Hasbro, whose games, toys and brands have deeply influenced generations of consumers including our own team," Julian Farrior, CEO of Backflip Studios, said in a statement.

Farrior and his team will continue to run his Colorado-based company, which will develop its own work as well as create new games for Hasbro. There is no word yet on when the games will be released, or on which devices they will be available.

"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," Farrior said.

This isn't Hasbro's first foray into digital gaming. This week, the company extended its deal with Electronic Arts, which allows the development of mobile titles for brands like Scrabble, Clue, Risk, and Yahtzee.

Meanwhile, Hasbro has also partnered with PopCap and Zynga to launch tabletop versions of their most popular franchises, turning Bejeweled, CityVille, Words With Friends, Farmville, and Draw Something.