Hasbro has purchased D&D Beyond, the game companion for the toy giant’s fantasy franchise Dungeons & Dragons, from Fandom for $146.3 million in cash.
The deal adds nearly 10 million players to Hasbro’s digital tabletop business as D&D Beyond becomes part of the toy giant’s Wizards of the Coast business. 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 towards Hasbro becoming a gaming powerhouse comes amid an on-going proxy battle with activist investor Alta Fox Capital Management. The D&D Beyond acquisition aims to give Hasbro deeper data-driven insights into users of the Dungeons & Dragons role-playing game for growth 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 boardrooms.