Toronto toy maker Spin Master to buy two children’s app developers
Manufacturer gets "where the kids are," building digital footprint with acquisitions of two new-age toy makers
TORONTO—Spin Master Corp. is taking a big step into the digital age.
The Toronto-based toy maker has announced it will buy two children’s app developers from Sweden’s Bonnier Group. Together, the two brands, Toca Boca and Sago Mini, employ more than 100 people across offices in Toronto, Stockholm, San Francisco and New York.
“The acquisition of Toca Boca and Sago Mini, with their strong brand presence, allows Spin Master to develop a leadership position in the mobile app space for kids and rounds out our ability to entertain kids in both the physical and digital world” Ronnen Harary, one of the company’s co-CEO, said.
“Older kids content consumption patterns have shifted to mobile devices and we want to be where the kids are,” Harary added.
Founded in 2011, Toca Boca has since released 32 apps. The company’s games have racked up more than 140 million downloads in 2015 countries. Sago Mini, meanwhile, has built 16 apps that have reached 13 million devices.
Though Spin Master did not release the financial details of the deal, it said the acquisition is expected to close in May of this year.
The buy follows two other recent Spin Master acquisitions; the company bought the rights to the iconic Etch a Sketch toy in February, as well as Cardinal Games last year.