German puzzle and toy company Ravensburger announced that it has purchased Thinkfun for an undisclosed amount.
Falling under the Ravensburger North American division, Thinkfun will continue to act as an independent company and will keep its headquarters located in Alexandria, Va. Co-founder and CEO of Thinkfun Bill Ritchie will stay on with the company acting as its new chief creative officer. Ravensburger has also said that it’ll keep on Thinkfun’s directors and staff.
“We have known and admired ThinkFun for a long time,” wrote Ravensburger CEO Clemens Maier. “Its unique brand and games fit perfectly with our mission of promoting playful development as we continue to broaden our expertise in the games category and grow our business in North America.”
The move comes as the game market enters a high point of expansion, with larger companies beginning to grab up smaller ones. These purchases are meant to expand company’s offerings to consumers, with the idea to strengthen their positions within the field. Having Thinkfun come under the Ravensburger umbrella allows the company to deepen its hold in the North American market.
On the flipside, the new partnership benefits Thinkfun by opening up Ravensburger’s international distribution channels, letting the company bring its products to a world wide audience.
“Ravensburger is the ideal partner to help us bring our games to even more families across North America and around the world,” said Ritchie.
Thinkfun has been in the puzzle and game business for over 30 years, while Ravensburger comes as the elder statesman having been founded in 1883.