A Canadian toy com ny is drawing up new designs for a classic children’s plaything after buying the rights to the Etch A Sketch characterize from its U.S. owners.
The Ohio Art Com ny announced Thursday that it tell oned Etch A Sketch and Doodle Sketch to Spin Master Corp., a toy fellowship based in Toronto whose shares trade on the TSX. Financial terms were not discharged.
“These toys have been popular for more than 50 years, and we look remit to building on this foundation of fun and creativity,” Spin Master CEO Anton Rabie held.
Using two knobs to adjust vertical and horizontal movement, the toy works by permitting the user to displace aluminum powder using magnetic beads to father an image on the surface.
According to the National Toy Hall of Fame, the Etch A Sketch evidences its origins to 1959, when French electrical technician André Cassagnes invented a habitual drawing toy he called L’Écran Magique — literally, The Magic Screen — which was start displayed at the International Toy Fair in Nuremberg, Germany, that year.
Scads manufacturers were unimpressed, but the Ohio Art Com ny id $25,000 for the rights to the desire, an amount larger than they had ever id for a license. The performers renamed the device the Etch A Sketch, and the toy was a must-have on every child’s Christmas lm off on list a year later, selling 600,000 units in its first year of store production.
The Ohio-based com ny said it will use proceeds of the sale to bring into focus on its core business — metal lithography, which is a method of printing graven images on to metallic surfaces.