The 40th anniversary of Rubik’s Cube will come to a close with the start of a new era for the iconic toy.
Toronto-based Spin Master Corp. inked a deal to acquire London-based Rubik’s Brand Ltd., owner of the Rubik’s Cube and its related assets. The deal is expected to close on Jan. 4, 2021, marking the 22nd acquisition since Spin Master was founded in 1994.
Rubik’s Cube was invented by Ernő Rubik in 1974 and launched globally in 1980. The Cube quickly became a global icon, selling hundreds of millions of units and going on to become a STEM-accredited puzzle, noted for supporting brain development and cognitive skills.
“There are many growth opportunities for Spin Master with the Rubik’s brand as we transition to a blended model of direct sales in combination with existing partners globally,” says Anton Rabie, chairman and co-CEO, Spin Master. “The addition of the legendary Rubik’s Cube to our roster of games is a historic moment and we are honored to continue the legacy.”
“It is really exciting that Spin Master will continue the legacy of the Rubik’s Cube and fulfill my vision of nurturing smarter, future generations through play,” said Ernő Rubik. “We chose Spin Master because of their long-term lens and character.”
According to the NPD Group, Spin Master is now the third-largest games company in the U.S., having expanded through partnerships, collaborations, and acquisitions in recent years. The company has completed a dozen acquisitions since going public in 2015.