Spin Master announced that it has agreed to acquire the Toca Boca and Sago Mini companies from the Bonnier Group of Sweden.
With offices in Stockholm, San Francisco and New York and over 80 employees, Toca Boca is a play studio that makes digital toys for kids aged 3-9.
Since its first product launch in 2011, Toca Boca has released 32 apps that have been downloaded in 215 countries worldwide. With over 140 million total downloads to date and growing, Toca Boca apps focus on stimulating kids' imagination so that they can play and have fun in a safe digital environment with no in-app purchases or external advertising.
Located in Toronto, Sago Mini creates mobile apps for kids aged 2-5 that focus on the pre-school segment. With a team over 25 employees, Sago Mini has released 16 apps which have been downloaded over 13 million times. Toca Boca and Sago Mini both emphasize children's natural sense of curiosity, experimentation and self-expression and combined have over 15 million monthly active users globally.
"The acquisition of Toca Boca and Sago Mini, with their strong brand presence, allows Spin Master to develop a leadership position in the mobile app space for kids and rounds out our ability to entertain kids in both the physical and digital world" said Ronnen Harary, Co-Chief Executive Officer, Spin Master Ltd. "Older kids content consumption patterns have shifted to mobile devices and we want to be where the kids are. The Toca Boca brand, which is trusted by parents together with its network of millions of users, gives us a strong platform to continue to build on. We look forward to linking these mobile apps, which emphasize fun and creativity, with Spin Master's global capabilities across our toy and TV show businesses" he added.