Hasbro Acquires Cranium

Hasbro Inc., the world’s second-largest toy and game company, has agreed to acquire board game maker Cranium Inc. for about $77.5 million. The acquisition of privately held Cranium will add to a Hasbro games portfolio that already includes Monopoly, Scrabble, and Trivial Pursuit.

The price may be adjusted based on Cranium's net assets on the closing date, Hasbro said. The deal is expected to close during the first quarter of 2008.

“This acquisition is consistent with Hasbro’s ongoing strategy to bring to market the most innovative toy and game brands in the world,” says Brian Goldner, chief operating officer for Hasbro.

Industry analysts believe Hasbro will leverage Cranium games into its licensing agreement with Electronic Arts Inc. Hasbro and Electronic Arts said in August they forged a licensing agreement to create electronic versions of some of Hasbro’s most popular games, including Monopoly and Scrabble.