Hasbro has acquired the Power Rangers brand from Saban Properties.

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The entertainment company purchased Power Rangers and several other Saban brands, including My Pet Monster and Treehouse Detectives, for $522 million in cash and stock.Hasbro had previously pursued the master toy licence agreement for Power Rangers, paying $22.25 million in February 2018. This will be factored into the overall purchase.Hasbro CEO Brian Goldman spoke of the "significant opportunity" for Power Rangers to fit into Hasbro's product strategy in a quote alongside the announcement."Shortly after entering into our licensing arrangement, it became clear that now was the time to begin investing in unlocking Power Rangers’ full potential. We see significant opportunity for Power Rangers across our entire Brand Blueprint, including toys and games, consumer products, digital gaming and entertainment," Goldman said.Power Rangers creator Haim Saban will provide consultation on the brand's development under the wing of Hasbro."Hasbro’s leadership in innovation, storytelling and brand stewardship make it the perfect company to further develop the global reach and appeal of the Power Rangers property," Goldman continued.Hasbro's first Power Rangers products will be made available in Spring 2019.Power Rangers recently received the big-screen treatment. For our thoughts on the 2017 movie check out IGN's review.

Jordan Oloman is a Freelance Writer for IGN who wants to be a Megazord when he grows up. Follow him on Twitter.