Canadian toy company acquires children's app maker, Toca Boca

Canadian toy company Spin Master has agreed to purchase children's app and digital toy maker, Toca Boca, along with its sister studio, Sago Mini, from the Bonnier Group for an undisclosed fee. 

Based in Stockholm, Toca Boca also has offices in New York and San Francisco, and makes a variety of educational mobile apps and games for kids aged three to nine.

Since forming in 2010, the company has released 32 apps, such as Toca Dance and Toca Nature, which have racked up over 140 million downloads to date.

Recently, Toca has been trying to develop a subscription-based TV channel, dubbed 'Toca TV', and, of particular interest to Spin Master, has also been investigating the possibility of creating a toy line. 

Sago Mini, on the other hand, is focused on the pre-school segment of the market, and has designed 16 apps, which have amassed over 13 million downloads. 

Accrording to Toca CEO, Björn Jeffrey, the studio will now "look forward to continue building the mobile app space in conjunction with Spin Master's deep expertise and leading position in toys and entertainment globally."

The acquisition is expected to go through on May, 2.