A Canadian company, the Spin Master toy factory, will acquire Rubik’s Brand Limited, a company that owns the Rubik’s Cube, for 50 million dollars, more than HUF 15 billion. Founded in 1994, Spin Master is one of the largest players in the gaming industry, generating 1.58 billion dollars in revenue last year. The Canadian company owes its success primarily to buying iconic games like Rubik’s Cube and making them available to more and more people. The Rubik’s deal is expected to close on January 4th, the Huffington Post reports.
Elizabeth LoVecchio, vice president of Spin Master announced the acquisition of Rubik’s in a statment, saying that the “Rubik’s Cube is an iconic logic game that has been part of pop culture for more than 40 years and has completely conquered its fans.” Regarding the deal, Ernő Rubik said that he was excited for the Spin Master to fulfill his ideas and to take care of the smarter generation of the future through the game.
Ernő Rubik Jr., who works as a university teaching assistant, invented the three-dimensional mechanical logic game in 1974 as an educational aid, which he named “the magic cube.” In 1979, Rubik met the British businessman of Hungarian origin, Tom Kremer, with whom they took the magic cube to success. As soon as the game was launched worldwide, it was immediately a success. Since then, more than 350 million of them have been sold worldwide, reports Növekedés.hu.
Rubik’s Brand Limited is a London-based company, co-owned by Tom Kremer’s son, David Lytton Kremer, who has interests in several other toy companies. It is not yet known whether Ernő Rubik will leave the company or to what extent he will share in the purchase price.
Source: https://hungarytoday.hu/
