One of the pioneering brands of robotic toys is about to have a new owner.
Spin Master Corp. formally revealed its plans to acquire HEXBUG from Innovation First International. The pending deal is set to close next month and marks Spin Master’s 28th acquisition since its founding in 1994.
HEXBUG launched in 2007 and has since expanded to include a robust portfolio of more than 100 toys, including buildable Nano playsets, licensed BattleBots, mechanical bugs, and HEXMODS R/C. The brand is rooted in kids’ love for “remote control and fast-moving creatures that exhibit fascinating life-like behavior.” Two years ago, HEXBUG introduced JunkBots, a content-backed line of robotic collectibles.
“What excites us so much about HEXBUG is that the inventors have mastered both the science and the art of bringing creatures to life through technology, to deliver truly magical play experiences,” says Spin Master Co-Founder Anton Rabie. “With this acquisition, Spin Master will combine its innovation, global reach, and diverse portfolio with HEXBUG’s innovative excellence to surprise and inspire kids in new ways.”
“Spin Master is the business that can really take our years of foundational tech toy innovation to the next level and gain an even greater awareness for the brand here at home and around the world,” says Tony Norman, CEO at Innovation First International.
In recent years, Spin Master’s acquisitions business has seemingly accelerated. Last year, the company purchased puzzle maker 4D Brands International, digital game studio Nørdlight, and independent game studio SolidRoots.
“At Spin Master we are focused on reimagining everyday play and are always looking for opportunities to strengthen our innovative portfolio through meaningful acquisitions,” adds Max Rangel, Spin Master’s Global President & CEO. “HEXBUG is an evergreen brand with a strong foothold within a niche category, opening an opportunity for Spin Master to own and ultimately grow the popular robotic range’s reach through our expanded global footprint while also leveraging this technology across our broader toy offering.”
Stay on the #pulseofplay and learn more about Spin Master’s 2023 product range in next month’s issue of The Toy Book — The BIG Toy Book. Don’t miss an issue, subscribe today!
