Hasbro acquires majority stake in mobile developer Backflip Studios for $112M

The keeper of G.I. Joe, Transformers, and Dungeons & Dragons made a move to improve its position in the mobile-gaming sector.

Toy and entertainment company Hasbro revealed today that it purchased a majority stake in mobile game developer Backflip Studios. The developer is responsible for games like Army of Darkness Defense, Dragonvale, and Paper Toss Friends. Hasbro dropped $112 million to capture a 70 percent share of the company.