Hasbro buys majority interest in Backflip

BOULDER – Toy company Hasbro Inc. paid $112 million to buy a 70 percent stake in Backflip Studios LLC, maker of smartphone games such as DragonVale and Paper Toss.

Boulder-based Backflip will create mobile games featuring Hasbro brands, the companies said in a press statement. Backflip will remain in Boulder and its management team will continue to run the company.

“The acquisition of Backflip fits perfectly into our strategy of extending our brands into all forms and formats,” Brian Goldner, president and chief executive officer of Pawtucket, Rhode Island,-based Habro said in the statement.

Backflip was founded in 2009 by Julian Farrior, Dale…