TheStreet

Shares of Mattel (MAT - Get Report) soared nearly 11% to $10.69 Tuesday after the toy and game company said it signed an licensing agreement with Hello Kitty franchise owner Sanrio.

Under the agreement, Mattel said it will design and develop toys, dolls, playsets, games, puzzles, baby gear, plush, vehicles and other products inspired by Hello Kitty & Friends and Hello Kitty Cafe, and other characters in the Sanrio portfolio including Hello Kitty, Keroppi, Chococat, Badtz-Maru, Little Twin Stars, and Tuxedosam.

The toy lines and games will available in North America, Europe, Latin America, Australia and New Zealand beginning in the fall of 2020.

Separately, S&P Dow Jones Indices said Mattel will replace Bemis  (BMS) on the S&P MidCap 400, while Bemis takes Mattel's place on the S&P 500.

Last month, Mattel announced that it has extended its licensing agreement with Warner Bros., maintaining a partnership with DC for girls, preschool, vehicles, games and novelty toy categories as well as growing those categories.

The company also expanded its global licensing agreement with Walt Disney (DIS - Get Report) that will span new titles and develop toys inspired by characters from Pixar film properties including "Coco," "Finding Nemo," "Monsters, Inc.," and "The Incredibles."

The El Segundo, California-based Mattel owns several iconic toy brands, including Barbie, Hot Wheels, American Girl, and Fisher-Price. Mattel will also create new content for DC Super Hero Girls.

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