Spin Master has acquired the Toca Boca and Sago Mini companies from the Bonnier Group of Sweden. The transaction will close on May 2. Toca Boca has released 32 apps in 215 countries since its launch in 2011, and Sago Mini has released 16 apps that have been downloaded more than 13 million times. [Read more...]
VTech will acquire 100 percent of the outstanding common stock of LeapFrog through an all-cash tender offer followed by a second-step merger. In the tender offer, VTech will offer LeapFrog investors $1.00 per share for LeapFrog’s Class A and Class B shares, which represents a 75.4 percent premium over the closing price of LeapFrog’s Class A shares on February 4, 2016. The total purchase consideration amounts to approximately $72 million. VTech will fund the tender offer through internal resources.
The tender offer will commence on or around March 3, 2016, and will be open for a minimum of 20 business days. The closing of the transaction is subject to satisfaction of certain conditions set forth in the merger agreement, which has been unanimously approved by the Boards of Directors of both companies. LeapFrog’s Board has agreed to unanimously recommend to its stockholders that they tender their shares of LeapFrog common stock pursuant to the tender offer. [Read more...]
Activision Blizzard Inc. and King Digital Entertainment have singed a definitive agreement where ABS Partners C.V., a wholly owned subsidiary of Activision Blizzard, will acquire all of the outstanding shares of King for $18.00 in cash per share, for a total equity value of $5.9 billion. The $18.00 per share purchase price implies a 20% premium over King’s October 30 closing price.
The deal bring together two of the top five highest-grossing mobile games in the U.S. (Candy Crush Saga and Candy Crush Soda Saga), the world’s most successful console game franchise (Call of Duty), the world’s most successful computing franchise (World of Warcraft), and other well known titles. Activision Blizzard expects that this content will enhance Activision Blizzard’s position as one of the world’s most successful interactive entertainment companies.
The boards of directors of Activision Blizzard and King unanimously approved the acquisition, which is being implemented by means of a scheme of arrangement under Irish law. The acquisition is subject to approval by King’s shareholders and the Irish High Court, clearances by the relevant antitrust authorities and other customary closing conditions, and is expected to be completed by the spring.
Spin Master has completed the previously-announced acquisition of 100% of Cardinal Industries, one of the oldest privately-held game and puzzle companies in the United States. This makes Spin Master the second-largest games company in the U.S.
The purchase price was satisfied by $50 million in cash. Spin Master will also pay up to an additional $19.5 million over five years based on Cardinal’s EBITDA. The acquisition was financed through Spin Master’s existing credit facility.
Infantino has a 20-plus year brand heritage, and its product categories include developmental toys, activity gyms, playmats, infant carriers, travel accessories, and feeding products. Through the acquisition, Blue Box adds to a portfolio of international brands including B kids, bbi, and Elite Force.
Created in 2012 by husband-and-wife team Isaac Squires and Carly Gloge, Smart Toy is an interactive, huggable plush toy that uses apps and speech recognition software to interact with children. It encourages creative, active play by telling stories, embarking on adventures, and guiding activities. It also speaks five different languages.
According to Sunny Lauridsen, senior vice president of sales and marketing for Cartwheel Kids, the Smart Toy acquisition is in line with Cartwheel Kids’ strategy to expand its product portfolio into new categories that deliver meaningful play experiences to children. The next-generation Smart Toy will debut at International Consumer Electronics Show in January.
Gloge and Squires will join the Cartwheel Kids team as directors of technology and will continue to oversee development of the Smart Toy product line.
Under the terms of the agreement, the Mojang team will join Microsoft Studios. Microsoft will acquire Mojang for $2.5 billion, and expects the acquisition to be break-even in fiscal year 2015 on a GAAP basis. Subject to customary closing conditions and any regulatory review, the acquisition is expected to close later this year.
Available across multiple platforms, players have downloaded Minecraft more than 100 million times, on PC alone, since its launch in 2009. Minecraft is also the most popular online game on Xbox, and the game’s community is among the most active in the industry, with more than 2 billion hours played on Xbox 360 alone in the past two years. [Read more...]