Children’s entertainment company Spin Master has agreed to acquire Sweden-based digital toy maker Toca Boca and its Canada-based sister firm Sago Mini, providing an exit to media group Bonnier.
The transaction is set to close on May 2 this year. Financial terms have not been disclosed.
Toca Boca was launched in 2010 by Bonnier Growth Media, the corporate venturing subsidiary of Bonnier, and has to date released 32 smartphone and tablet apps aimed at three to nine-year-old children. It is currently also developing a subscription-based TV channel.
Founded by Bonnier Growth Media in 2013 as a sister company to Toca Boca, Sago Mini focuses on apps for kids aged between two and five and has released 16 games so far.
Spin Master will build on the two companies’ current strategies while linking their offerings to its other products, which include toys and TV shows.
Björn Jeffrey, chief executive of Toca Boca, said: “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 expertise and leading position in toys and entertainment globally.”