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Canadian toymaker buys iconic Rubik's Cube for US$50M

Canadian toymaker buys iconic Rubik's Cube for US$50M
/ Andrew Spencer / Contributor / Moment / Getty Images

Canadian toymaker Spin Master Corp. has acquired Rubik’s Cube for US $50 million.

The Toronto-based company initially announced its intention to acquire the famous legendary brand/toy on October 27, 2020, but it wasn’t until Tuesday, the acquisition was official.

Spin Master says, “it will continue the 3D puzzle's legacy, with plans for further innovation across the entire Rubik's portfolio and expanded distribution through the company's global footprint”.

The company has acquired 22 toy brands since its launch in 1994, and 12 since its initial public offering in 2015.

The news comes just days after the announcement of a movie and a game show based on the invention of the iconic toy.

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The Rubik's Cube was invented by Hungarian sculptor and professor of architecture Ernő Rubik. Originally called the Magic Cube, the puzzle was licensed by Rubik to be sold by Ideal Toy Corp. in 1980 via businessman Tibor Laczi and Seven Towns founder Tom Kremer.

Rubik's Cube won the 1980 German Game of the Year special award for Best Puzzle. It is widely considered to be the world's best-selling toy. As of 2021, over 450 million Rubik’s Cubes have been sold around the world making it the world's top-selling puzzle game.

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