WASHINGTON (dpa-AFX) - Games and toys maker Hasbro, Inc. (HAS) has been granted the license to develop products based on online gaming company Zynga Inc.'s (ZNGA) games and brands under a global partnership, the two companies said Thursday. Financial terms of the deal were not disclosed.
The deal also creates opportunities for co-branded merchandise that will feature a combination of both Hasbro and Zynga brands. The two companies expect the first products to be available beginning in fall 2012.
San Francisco-based Zynga is the world's largest developer of online social games. The company's offerings include FarmVille, CityVille, Words With Friends, CastleVille, and Zynga Poker.
Zynga's games are popular in social networking sites such as Facebook and on mobile platforms. The company has more than 227 million monthly active users.
Pawtucket, Rhode Island-based Hasbro is the maker of Transformers, G.I. Joe toys and Scrabble as well as Monopoly.
Commenting on the deal, Mark Pincus, founder, CEO and chief product officer of Zynga said, 'This partnership is so special because it represents an exciting leap forward in enabling people to connect their virtual and real worlds. Hasbro has inspired play through their famous toys, games and action figures and we look forward to working with a company that continually creates meaningful and fun brands.'
Brian Goldner, President and CEO of Hasbro said, 'Hasbro is thrilled to have the opportunity to bring Zynga's immensely popular social games to life in a variety of creative and new expressions that reflect consumers' growing desire to surround themselves with gaming brands they love anytime, anywhere together with their friends and family.'
HAS closed Thursday's trading at $36.59, up $0.86 or 2.41 percent on a volume of 3.06 million shares, while ZNGA closed trading at $13.25, down $0.44 or 3.21 percent on a volume of 14.41 million shares.
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© 2012 AFX News
