Spin Master, a leading Canadian global children’s entertainment company has reached an agreement to acquire the HEXBUG brand of toys.
HEXBUG features robotic technology with movement inspired by nature to give kids a unique play experience. The toy uses remote controls and fast-moving creatures that exhibit life-like behavior.
HEXBUG is cool because it makes use of BEAM robotics. This style of robotics primarily uses simple analogue circuits, such as comparators, instead of a microprocessor. The result produces an unusually simple design. The HEXBUG first piloted in the US through RadioShack and is now sold in most major retail stores. The original Hexbugs are based on six-legged arthropods but now come in several different varieties. The name “HEXBUG” relates to the six-sided packaging it is sold in, rather than to its number of legs.
Spin Master is a Canadian toy company success story. Most know PAW Patrol, Bakugan, Kinetic Sand, Air Hogs, Hatchimals, Rubik’s Cube and GUND. The acquisition of HEXBUG marks Spin Master’s 28th acquisition. It is also the 18th since its initial public offering in 2015.
Spin Master has received 103 Toy of the Year nominations with 28 wins across a variety of product categories. The company has 13 TOTY nominations for Innovative Toy of the Year. Spin Master produced eight television series. This includes the recently re-launched Bakugan Battle Brawlers. Paw Patrol is currently broadcast in over 160 countries and territories.