Toy company Hasbro has paid for $112m (£75m) for a majority stake in app developer Backflip Studios, in order to grow its mobile offering.

Hasbro now owns 70 per cent of the company, which will continue to work on its own IP from its Colorado office, but will also start working on games featuring Hasbro brands.

“The acquisition of Backflip fits perfectly into our strategy of extending our brands into all forms and formats,” said Brian Goldner, president and CEO of Hasbro. “As mobile play continues its rapid growth, Backflip’s leadership position, great games and established network of users, makes Hasbro a more meaningful participant in digital gaming. Together with Julian, Dale and the talented team at Backflip, we will continue to take a leadership role in bringing great game play to the mobile environment.”

Since the company was founded in 2009, Backflips games – including DragonVale, NinJump and Paper Toss – have cumulatively totalled 300m downloads.