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Spin Master Announces the Purchase of Toca Boca and Sago Mini, Leading Global Kids Mobile Digital App Brands
Toronto (ots/PRNewswire) - Spin Master Corp., ("Spin Master") (TSX: TOY) - a leading global children's entertainment company - today announced that it has agreed to acquire the Toca Boca and Sago Mini companies from the Bonnier Group of Sweden.
With offices in Stockholm, San Francisco and New York and over 80 employees, Toca Boca is a play studio that makes digital toys for kids aged 3-9. Since its first product launch in 2011, Toca Boca has released 32 apps that have been downloaded in 215 countries worldwide. With over 140 million total downloads to date and growing, Toca Boca apps focus on stimulating kids' imagination so that they can play and have fun in a safe digital environment with no in-app purchases or external advertising. Located in Toronto, Sago Mini creates mobile apps for kids aged 2-5 that focus on the pre-school segment. With a team over 25 employees, Sago Mini has released 16 apps which have been downloaded over 13 million times. Toca Boca and Sago Mini both emphasize children's natural sense of curiosity, experimentation and self-expression and combined have over 15 million monthly active users globally.
"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," said Ronnen Harary, Co-Chief Executive Officer, Spin Master Ltd. "Older kids' content consumption patterns have shifted to mobile devices and we want to be where the kids are. The Toca Boca brand, which is trusted by parents together with its network of millions of users, gives us a strong platform to continue to build on. We look forward to linking these mobile apps, which emphasize fun and creativity, with Spin Master's global capabilities across our toy and TV show businesses," he added.
Toca Boca is in the early stages of developing a subscription-based TV channel, Toca TV. Toca TV brings together a curated and safe video experience, exclusive Toca Boca content, and interactive features in an engaging, playful and personal SVOD platform for kids. A toy line for both Toca Boca and Sago Mini is also an emerging focus. Spin Master intends to continue to build on these exciting strategic initiatives over time.
"We are very excited to join the Spin Master team and look forward to continue building the mobile app space in conjunction with Spin Master's deep expertize and leading position in toys and entertainment globally," said Björn Jeffrey, CEO of Toca Boca.
"The acquisition of Toca Boca and Sago Mini brings together talented creative and development resources in Sweden, the US and Canada together with Spin Master Studios' existing digital team in Los Angeles," said Ben Gadbois, Spin Master's President and COO. "These teams will drive further innovation and growth for Spin Master in line with our growth strategies," he added.
This announcement follows on Spin Master's recent purchases of Cardinal Games a leader in toys and games for more than 60 years in 2015, Editrice Giochi SRL, a producer of games in Italy for more than 70 years, and Etch A Sketch and Doodle Sketch, iconic 50 year old brands which Spin Master intends to infuse with innovation and grow.
The transaction will close on May 2, 2016.
About Spin Master Corp.
Spin Master is a leading global children's entertainment company that creates, designs, manufactures and markets a diversified portfolio of innovative toys, games, products and entertainment properties. Spin Master is best known for award-winning brands including Zoomer(TM) Dino, Bakugan Battle Brawlers(TM), Air Hogs®, and 2015 Toys of The Year, Bunchems and Meccanoid G15. Since 2005, Spin Master has received 63 TIA Toy of The Year (TOTY) nominations with 16 wins across a variety of product categories. Spin Master has been recognized with 12 TOTY nominations for Innovative Toy of the Year, more than any of its competitors. Spin Master is among a limited number of companies that not only develop and produce global entertainment properties, characters and content, but also monetize that content through the creation, sale and licensing of products. To date, Spin Master has produced five television series, including 2007 hit series Bakugan Battle Brawlers and its current hit Paw Patrol, which is broadcast in over 160 countries and territories globally. Spin Master employs over 950 people globally with offices in Canada, United States, France, Italy, United Kingdom, Slovakia, Germany, the Netherlands, Mexico, China, Hong Kong and Japan.
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