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January 4, 2008

Hasbro to buy game company

Pawtucket-based Hasbro Inc. said this morning it has agreed to buy closely held game producer Cranium Inc. for $77.5 million.

The purchase may close by the end of the first quarter, Hasbro said, and the price may change depending on Cranium's assets when the purchase is completed. Proceeds of the sale will go to shareholders and toward paying off Cranium's debt.

The company's games include Cranium, Cranium Hullabaloo and Cranium Cadoo.

Posted by Brandie Jefferson  at 1:27 PM | Permalink

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