Hasbro Acquires Tiger Electronics
NEW YORK (AP) _ Toymaker Hasbro Inc. announced today it will purchase privately held Tiger Electronics Inc. for $335 million.
Tiger, based in the Chicago suburb of Vernon Hills, is a leader in the development and distribution of electronic entertainment, including hand-held games, toys and learning aids. Its toys include the top-selling Giga Pets and others games such as Brain Warp and Lites Out.
``Tiger brings Hasbro a rich portfolio of brands and expertise in an area that has great growth potential for us, particularly as electronic entertainment technologies converge,″ said Alan G. Hassenfeld, Hasbro’s chairman and chief executive. ``The combination of Hasbro’s and Tiger’s product development know-how, together with our global brands and international marketing strength, make for an exciting match.″
Randy Rissman, Tiger’s chief executive, will continue to run the company from Illinois, Hasbro said. The deal is expected to close by late June.
Hasbro, based in Pawtucket, R.I., makes toys, games, interactive software, puzzles and infant-care products. Its lines include Playskool, Tonka, Kenner, Milton Bradley and Parker Brothers. Hasbro had revenue of $3.2 billion in 1997.