“Working with Hasbro, we combine our action know-how with a truly strong brand to create a unique mobile gaming experience. We believe that this will result in entertaining and accessible gameplay, which will appeal to a wide audience, and we expect the Nerf brand to give us a good leverage in the marketing and search for the game,” says Jussi T-htinen, CEO of Nitro Games. Hasbro (NASDAQ: HAS) is a global gaming and entertainment company dedicated to creating the best gaming and entertainment experiences in the world. From toys, games and consumer products to television, movies, digital games, live action, music and virtual reality experiences, Hasbro is bringing the world`s audience to life by resurrecting great innovations, stories and brands on established and inventive platforms. Hasbro`s iconic brands include Nerf, MAGIC: THE GATHERING, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, POWER RANGERS, PEPPA PIG and PJ MASKS as well as leading partner brands. With its global entertainment studio eOne, Hasbro builds its brands around the world through excellent storytelling and content on all screens. Hasbro is committed to making the world a better place for all children and families through social responsibility and philanthropy. Hasbro was voted Best Corporate Citizens by 3BL Media 2020 and has been voted one of the world`s most ethical companies ® for nine years. We regularly share important business and brand updates on our investor relations site, Newsroom and social channels (@Hasbro on Twitter and Instagram.) This corporate communication contains information that Nitro Games Oyj must publish under eu`s market abuse regulation. This information was communicated by the aforementioned contact person on December 10, 2020 at 5:20 p.m. (EET).
With this agreement, Nitro Games guarantees a worldwide license (without China) exclusive for the Nerf brand and associated brands in the category of action games based on the nerve blaster on mobile. The agreement follows a sectoral structure. Nitro Games acts as the game`s developer and publisher, and Hasbro acts as the brand`s licensee. By signing this agreement, Nitro Games will pay a limited advance fee to Hasbro. Nitro Games subsequently agreed to pay Hasbro an annual trademark license that can be recovered against net sales. Nitro Games` net financial income from the deal depends on the success of the game. Development of the game will begin immediately and the game should be ready for soft-launch in 2021.