Spin Master Corp. (TSX:TOY) acquired Etch A Sketch and Doodle Sketch from The Ohio Art Company, Inc. (OTCPK:OART) on February 11, 2016.

Spin Master Corp. (TSX:TOY) completed the acquisition of Etch A Sketch and Doodle Sketch from The Ohio Art Company, Inc. (OTCPK:OART) for $8.1 million on February 11, 2016. The acquisition included all brand related patents, trademarks, and inventory for the brands for a total cash consideration of $8.95 million, less an indemnity
escrow amount of $0.85 million. In addition, Spin Master agreed to pay a royalty between 2-4% based on future revenues for 8 years from the date of closing up with a minimum royalty payment of $3.15 million up to a maximum of $8.15 million.