"Orbeez represents a universally-appealing play pattern and as a result, this amazing Maya Toys property has stimulated the imaginations of millions of children globally," says Anton Rabie, co-founder and co-chief executive officer, Spin Master. "We're thrilled with this acquisition, which further strengthens our vibrant and growing activities business, providing recurring revenue and opportunities for integration into our existing product lines, as well as for further innovation."
Orbeez growing water beads are used in a variety of toy products. The technology is applied to a variety of toys, ranging from arts-and-crafts sets to pampering products.
Spin Master is known for brands such as Kinetic Sand, “PAW Patrol,” Cool Maker, Air Hogs andBakugan.
"With a 10-year history of entertaining kids, we believe the possibilities with Orbeez are endless," says Arlene Biran, vice president, marketing and activities global business unit lead, Spin Master. "Our design teams are excited to ideate on how we can grow the brand and bring new creative executions to market."
Other recent Spin Master acquisitions include Maccano, GUND, Fuggler and Aerobie.
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