Hasbro Inc. will acquire Entertainment One Ltd. (eOne).

Rhode Island-based Hasbro will boost its family IP portfolio and its entertainment production and distribution capabilities with the acquisition, which is being completed as an all-cash transaction valued at approximately $4 billion.

“The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling, which will now include Hasbro’s IP,” says Brian Goldner, Hasbro chairman and chief executive officer. “In addition, Hasbro will leverage eOne’s immersive entertainment capabilities to bring our portfolio of brands that have appeal to gamers, fans, and families to all screens globally and realize full franchise economics across our blueprint strategy for shareholders. We are excited to welcome eOne’s talented employees from around the world into the Hasbro family.”

“On behalf of the board of eOne, I am very pleased by this exciting development, which is a testament to eOne management’s vision, leadership, and solid execution. This transaction creates significant, immediate value for our shareholders as it recognizes the strength of our future-facing business model,” says Allan Leighton, eOne’s chairman of the board.

Once the acquisition is complete, Hasbro will take control of some valuable preschool brands, including Peppa Pig, PJ Masks, and the forthcoming Ricky Zoom. The entertainment capabilities of eOne provide Hasbro with the ability to develop its IP across TV, film, and OTT platforms, in addition to additional avenues in music, AR and VR, and location-based entertainment.

Hasbro eOne Deal