August 10, 2022
announced the acquisition of Nørdlight, a digital game studio based in Stockholm, Sweden. The acquisition supports Spin Master’s plans to grow revenue and penetration within digital gaming as well as leverage its proprietary intellectual property across all three creative centers: toys, entertainment and digital games.
Spin Master initially made a minority investment in Nørdlight in 2021 through
, an initiative focused on investing in early-stage start-ups. Twelve months later, this transaction marks the first minority investment to transition into an acquisition.
“The pace of innovation within the children’s entertainment space is rapidly changing, and this acquisition is strategically aligned with our aspiration to grow our Digital Games creative center to 20% of Spin Master’s total revenue,” says Max Rangel, global president and chief executive officer, Spin Master. “Leveraging our expanding capabilities and roster of valuable intellectual property, we
During the past year, Nørdlight has been working on developing and evolving the Rubik’s brand into the digital space by introducing a casual mobile puzzle game.
“For us, the indie feeling in studio construction is crucial, which is why we have chosen to do this with Spin Master who shares so many of our values and really sees the possibility of building a modern studio with the employees' creativity in focus,” says Olle Bäck, chief executive officer, Nørdlight. “In addition, the access to IPs we can now work with is incredible and that together we make a digital version of one of the world's best-selling puzzle is, in short, a dream come true.”
Spin Master is focused on accelerating the growth of the Digital Games creative center by increasing engagement and reach within current games, creating new intellectual property, leveraging existing brands and franchises in the digital realm and through acquisition.
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