Hasbro Inc., the world's second-largest toy and game company announced today that it has entered into an agreement to acquire privately-held Cranium Inc., and its wide range of Cranium branded games and related products. Hasbro will pay a base purchase price of $77.5 million, which may be adjusted based on Cranium's net assets on the closing date. The deal is expected to close during the 1st quarter of 2008.

"This acquisition is consistent with Hasbro's ongoing strategy to bring to market the most innovative toy and game brands in the world," said Brian Goldner, Chief Operating Officer for Hasbro, Inc. "As the global leader in games, Hasbro is in a unique position to maximize the long-term potential of the Cranium brand, with real opportunity for growth in international markets."

Cranium is five-time winner of the Toy Industry Association's T.O.T.Y. Game of the Year award and leads the industry in innovation through a constant passion for changing the rules. With more than 22 million games, books, and toys sold worldwide and popular brands like CRANIUM, CRANIUM HULLABALOO, CRANIUM CADOO, CRANIUM CARIBOO, CRANIUM ZOOREKA, CRANIUM WHOONU and CRANIUM BALLOON LAGOON, Cranium continues to fuel a global movement of more than half a million Craniacs in nearly 30 countries and more than 10 languages.ne halbe Millionen “Craniacs“ in über 30 Ländern und mehr als 10 verschiedenen Sprachen.