In a surprise move, Hasbro-owned developer Backflip Studios appears to be closing down.

The Boulder, CO, outfit was one of the pioneers of F2P mobile games, with its title DragonVale demonstrating the value of appealing to female gamers.

Hasbro acquired 70 per cent of the company for $112 million back in 2013.

End of an era

Backflip then became a publisher, releases games including Plundernauts and Seabeard. It also worked with developer Space Ape over the Hasbro-licensed Transformers: Earth Wars.

Reports say over 70 staff have been made redundant, albeit under good severance terms. Only the DragonVale team remains in place.

Hasbro recently reported weak quarterly financials, causing a 17 per cent drop in the company’s share price.