On August 10th, Spin Master Corp announced it had acquired the Sweden-based digital gaming studio Nørdlight. This deal aims to help Spin master move further into the casual gaming space through the creation of specialized toys, entertainment, and digital games.
Last August, Spin Master invested in Nørdlight through Spin Master Ventures to become a minority stakeholder in the company. This new deal marks the first minority investment to transition into a full-on acquisition.
“The pace of innovation within the children’s entertainment space is rapidly changing, and this acquisition is strategically aligned with our long-term target to grow our Digital Games creative center to up to 20% of Spin Master’s total revenue,” said Max Rangel, Spin Master’s CEO. “Leveraging our expanding capabilities and roster of valuable intellectual property, we are well positioned to build engaging, evergreen digital games properties as gaming continues to permeate entertainment time for children.”
Spin Master is a Canadian entertainment company that was founded in 1994. Some of the organization’s most famous assets include the Paw Patrol brand and several hit board games like Boom Boom Balloon, the 2014 Game of the Year according to the Toy Industry Association.