Spin Master has completed the acquisition of the Orbeez brand among a bundle of IP from Maya Toys.
Orbeez begin as tiny seeds, before magically growing to a round form when water is added. The versatile technology is applied to a variety of toys, ranging from arts-and-crafts sets to pampering products.
The ‘wet, wacky, soft and squishy’ water beads will join other tactile brands like Kinetic Sand and Cool Maker in Spin Master’s Activity segment.
"Orbeez represents a universally-appealing play pattern and as a result, this amazing Maya Toys property has stimulated the imaginations of millions of children globally," says Anton Rabie, Spin Master's Co-Founder and Co-CEO.
"We're thrilled with this acquisition, which further strengthens our vibrant and growing Activities business, providing recurring revenue and opportunities for integration into our existing product lines, as well as for further innovation."
The acquisition is the 11th in a string of purchases since Spin Master’s IPO in 2015 – and the 21st since the business was founded in the mid-90s.
Arlene Biran, Vice President Marketing and Activities Global Business Unit Lead at Spin Master says the design teams “are excited to ideate on how we can grow the brand and bring new creative executions to market”.
"With a 10-year history of entertaining kids, we believe the possibilities with Orbeez are endless.”