BUSINESS
10/27/2020 09:18 EDT | Updated 10/27/2020 11:00 EDT

Spin Master, Canadian Toy Maker, Buys Rights To Rubik's Cube In $50-Million Deal

The Rubik’s Cube will join a family of brands that including Paw Patrol, Hatchimals and Gund.

serts via Getty Images

TORONTO ― Canadian toymaker Spin Master Corp. is taking Rubik’s Cube for another spin around the block.

Hungarian puzzle enthusiast and teacher Erno Rubik invented the multi-coloured cube in 1974 and the toy became a commercial success after it launched globally in 1980.

Toronto-based Spin Master ― which includes Paw Patrol, Hatchimals and Gund among its toy brands ― said Tuesday it’s paying US$50 million.for Rubik’s Brand Ltd.

Watch: Rubik’s Cube fanatic turns pumpkin into functioning puzzle for Halloween. Story continues below.

 

“The Rubik’s Cube is an iconic puzzle that has permeated pop culture and captivated fans for more than 40 years,” Spin-Master vice-president Elizabeth LoVecchio said in a statement.

Erno Rubik said in the statement that he’s excited that Spin Master will “fulfill my vision of nurturing smarter, future generations through play.”

According to “Cubed: The Puzzle of Us All,” a book published in 2018, Rubik says the cube has attracted more attention than he ever imagined.

“It is a curious fact ― one that surprises me as much as anyone ― that for so many decades during a time of an unprecedented technological revolution, fascination with such a simple low-tech object has survived,” Rubik writes.

For those who haven’t seen or touched a Rubik’s Cube, it can be described as a cube made up of smaller cubes ― that rotate around a central core..

The big cube begins with each of its faces made up of squares of the same colour ― usually three by three by three.

The challenge is to give the cubes a spin and then try to get them back to their original configuration ― a surprisingly difficult thing to do given the number of possible configurations.

Spin-Master ― which generated US$1.58 billion in revenue for the year ended Dec. 31, 2019 ― reports its third-quarter results on

The Rubik deal is expected to close on Jan. 4, 2021.