In an all-cash transaction valued at $4 billion, the studio Entertainment One was acquired by toymaker Hasbro, Variety reports.

Variety notes that the deal, which reportedly came as a surprise to most of the employees of Entertainment One, brings My Little Pony and Nerf under the same umbrella as “Peppa Pig” and “PJ Masks” and furthers Hasbro’s growth goals in the infant and preschool categories.

“Top eOne execs will join the Hasbro team, said the companies in a joint statement,” Variety reports. “The independent studio pointed to its kid-friendly fare, noting that it has been transforming its business to focus on ‘high-quality premium talent-driven content,’ including its ‘Clifford the Big Red Dog’ and ‘Monster Problems.’”