Mattel163 (NetEase's 50% stake)
2026
$159M
Why
Mattel bought NetEase's half of the Mattel163 mobile games joint venture, valued at $318 million, to own its digital games studio outright. The deal closed in March 2026.
Mattel, Inc.
Toys and Family EntertainmentFounded 1945- HQ today: El Segundo, California, United States
Reviewed by Swet Parvadiya
Company data updated: October 2026
Acquisitions
Mattel Acquisitions
9
Major Deals Covered
$5.5B
Disclosed Deal Value
What are Mattel's biggest acquisitions?
Mattel's largest disclosed acquisition here is Learning Company for $3.5B in 1999. This page covers 9 major deals from 1979 to 2026, each with its price where disclosed and the reason behind it.
- Major deals covered
- 9
- Largest deal
- Learning Company ($3.5B)
- First deal
- 1979
- Most recent
- 2026
| Company | Year | Price | Purpose |
|---|---|---|---|
| Holiday | 1979 | $12.0M | Mattel acquired Holiday in 1979 for $12 million. |
| Corgi Toys | 1989 | Undisclosed | Mattel acquired Corgi Toys in 1989. |
| Fisher-Price | 1993 | $1.1B | Mattel acquired Fisher-Price to add the heritage infant and preschool brand to its portfolio, securing its position as the market leader in the juvenile products category and capturing the consumer from birth. |
| Pleasant Company | 1998 | Undisclosed | Mattel acquired Pleasant Company in 1998. |
| Learning Company | 1999 | $3.5B | Mattel bought educational software maker The Learning Company in 1999 for about $3.5 billion in stock; the deal produced heavy losses and the unit was disposed of in 2000. |
| Radica Games | 2006 | Undisclosed | Mattel acquired Radica Games in 2006. |
| Hit Entertainment | 2011 | $680.0M | Mattel acquired Hit Entertainment, the owner of the Thomas & Friends and Barney brands, to expand its preschool portfolio and secure long-term licensing revenue streams from popular children's television properties. |
| Mega Brands | 2014 | Undisclosed | Mattel acquired Mega Brands in 2014. |
| Mattel163 (NetEase's 50% stake) | 2026 | $159.0M | Mattel bought NetEase's half of the Mattel163 mobile games joint venture, valued at $318 million, to own its digital games studio outright. The deal closed in March 2026. |
- What companies has Mattel bought?
- Major acquisitions by Mattel documented here include Learning Company (1999), Fisher-Price (1993), Hit Entertainment (2011), Mattel163 (NetEase's 50% stake) (2026) and Holiday (1979).
- What is Mattel's most recent acquisition?
- The most recent Mattel acquisition documented here is Mattel163 (NetEase's 50% stake), in 2026, for $159M.
Mega Brands
2014
Why
Mattel acquired Mega Brands in 2014.
Hit Entertainment
2011
$680M
Why
Mattel acquired Hit Entertainment, the owner of the Thomas & Friends and Barney brands, to expand its preschool portfolio and secure long-term licensing revenue streams from popular children's television properties.
Impact
The acquisition added well-known preschool brands to the portfolio, providing a stable, high-margin revenue base that insulates the company from the volatility of the traditional toy market.
Outcome
While the acquisition secured valuable intellectual property, the integration was challenging, and the company has since focused on streamlining the portfolio to focus on its core heritage brands.
Radica Games
2006
Why
Mattel acquired Radica Games in 2006.
Learning Company
1999
$3.5B
Why
Mattel bought educational software maker The Learning Company in 1999 for about $3.5 billion in stock; the deal produced heavy losses and the unit was disposed of in 2000.
Pleasant Company
1998
Why
Mattel acquired Pleasant Company in 1998.
Fisher-Price
1993
$1.1B
Why
Mattel acquired Fisher-Price to add the heritage infant and preschool brand to its portfolio, securing its position as the market leader in the juvenile products category and capturing the consumer from birth.
Impact
Fisher-Price made Mattel a leader in infant, toddler and preschool toys.
Outcome
Fisher-Price remains one of Mattel's core brands, though the infant and preschool category has been one of its weaker areas in recent years.
Corgi Toys
1989
Why
Mattel acquired Corgi Toys in 1989.
Holiday
1979
$12M
Why
Mattel acquired Holiday in 1979 for $12 million.
Mattel, Inc.'s Growth & Acquisition Strategy
Mattel's stated strategy is to grow as an IP-driven play and family entertainment company. In practice that means: building more films and series from its brands (Masters of the Universe released in June 2026, with Hot Wheels, Matchbox and other projects in development); expanding digital games after buying out NetEase's 50% stake in Mattel163 for $159 million; selling higher-priced collector products through Mattel Creations; and cutting costs through its Optimizing for Profitable Growth programme, which targets $225 million of savings by the end of 2026.
How Mattel, Inc. Makes Money
Mattel designs, makes and markets toys and games, then sells them mainly at wholesale to mass retailers such as Walmart, Target and Amazon. It also sells direct to consumers through American Girl and Mattel Creations, and earns licensing and royalty income from consumer products, film, television and digital games. Its two reporting regions are North America and International. Product categories include dolls (Barbie, American Girl, Monster High), vehicles (Hot Wheels, Matchbox), infant, toddler and preschool (Fisher-Price) and action figures, building sets and games (UNO, Masters of the Universe, MEGA). Mattel also makes toys under licence for partners such as Disney (Princess and Frozen) and Universal (Jurassic World). In March 2026 it took full ownership of the Mattel163 mobile games studio, which adds in-app game revenue.
Mattel Acquisitions FAQ
What major corporate acquisitions has Mattel completed throughout its history?
Notable acquisitions include Fisher-Price (1993 for $1.1B), Pleasant Company / American Girl (1998 for $700M), The Learning Company (1999 for $3.5B, sold 2000), HIT Entertainment (2012 for $680M), and Mega Brands (2014 for $460M).
Why was the 1993 acquisition of Fisher-Price a transformational milestone for Mattel?
In 1993, Mattel acquired Fisher-Price for $1.1 billion in stock, creating the world's largest toy company by uniting the #1 girls' toy brand (Barbie) with the #1 infant, toddler, and preschool toy brand in the world.
What was Mattel's acquisition of Pleasant Company (American Girl) in 1998?
In 1998, Mattel acquired Pleasant Company, founded by Pleasant Rowland in 1986, for $700 million in cash, bringing the premium American Girl doll, book, and experiential retail franchise into Mattel's portfolio.
What was the strategic acquisition of HIT Entertainment in 2012?
In 2012, Mattel acquired British preschool entertainment company HIT Entertainment for $680 million, adding global entertainment IP including Thomas & Friends, Bob the Builder, Barney, Fireman Sam, and Angelina Ballerina.
What was the acquisition of Mega Brands in 2014?
In 2014, Mattel acquired Montreal-based Mega Brands for $460 million, adding MEGA BLOKS to compete against Lego in construction building toys and securing licensed collector lines for video games like Halo and Pokémon.
How did Mattel acquire the classic card game UNO?
In 1992, Mattel acquired International Games, Inc., the creator and publisher of the beloved card game UNO (invented by Merle Robbins in 1971) and Skip-Bo, building Mattel into the global leader in card games.
What happened to The Learning Company after Mattel acquired it in 1999?
Mattel acquired educational software maker The Learning Company in 1999 for $3.5 billion to enter digital gaming. Due to large unexpected financial losses, Mattel divested the company in 2000 for a nominal sum, refocusing strictly on core toy and entertainment IP.
Does Mattel actively pursue large-scale corporate acquisitions today?
Under CEO Ynon Kreiz, Mattel focuses on organic growth, maximizing returns on existing owned IP (Barbie, Hot Wheels, Masters of the Universe) through Hollywood movie and game licensing rather than executing high-debt acquisitions.
What companies has Mattel acquired?
Mattel built its massive empire through highly aggressive M&A. In 1993, they acquired Fisher-Price for $1 billion, instantly securing absolute monopoly over the lucrative "infant and preschool" toy market. In 2014, they aggressively acquired MEGA Brands for $460 million, explicitly attempting (though largely failing) to directly challenge LEGO's massive dominance in the highly lucrative building-block sector.
Related M&A Histories
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Explore Mattel
Core profile pages, founders and related research hubs for this company.