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The toy giant is looking to become a gaming powerhouse under newly installed CEO Chris Cocks.
By Etan Vlessing
Canada Bureau Chief
Hasbro has purchased D&D Beyond, a digital toolset for players of the toy giant’s Dungeons & Dragons fantasy franchise, from Fandom for $146.3 million in cash.
D&D Beyond, which boasts nearly 10 million users, will be absorbed into Hasbro’s Wizards of the Coast division, which controls Dungeons & Dragons as well as other tabletop and digital gaming franchises like Magic: The Gathering. Chris Cocks recently became CEO of Hasbro after serving as president and COO of its Wizards of the Coast and digital gaming division.
The executive’s stepped-up drive toward Hasbro becoming a gaming powerhouse comes amid an ongoing proxy battle with activist investor Alta Fox Capital Management. The D&D Beyond acquisition aims to give Hasbro deeper data-driven insights into Dungeons & Dragons role-playing game enthusiasts to aid in new product development, live services and tools, and regional expansions.
“The acquisition of D&D Beyond will accelerate our progress in both gaming and direct to consumer, two priority areas of growth for Hasbro, providing immediate access to a loyal, growing player base,” the Hasbro chief said in a statement on Wednesday.
“D&D Beyond has been one of our most valuable partners in the digital space for the past six years and we’re excited to bring their best-in-class talent onto our team,” Cynthia Williams, president of Wizards of the Coast and digital gaming, added in her own statement.
The D&D Beyond transaction, to be paid for out of Hasbro’s cash on hand, is expected to close during the second or third quarter of 2022, pending closing conditions. The deal has been approved by both Hasbro’s and Fandom’s boards.
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