Electronic Arts and Hasbro Inc. have announced that they're joining forces in a strategic partnership which will allow the two companies to share intellectual properties for use in the video game and toy business.

"The gaming market has never been more primed for a revolution in how families enjoy games," comments EA Casual President Cathy Vrabeck. "Hasbro is the ideal partner to help propel this change. Their games define fun."

Under the agreement, EA may develop video game versions of Hasbro games such as Monopoly, Scrabble, Yahtzee, Nerf, Tonka and Littlest Pet Shop. In turn, Hasbro can manufacture toys from EA game titles.

"These are games that we all love and remember from our childhoods," adds Vrabeck. "The combination of EA's market leadership in the interactive space and Hasbro's timeless franchises is a perfect partnership for today's market."

The first games from the Hasbro-EA partnership are set to come out in 2008 across handheld, PC, console and mobile platforms. Details on the toys and other merchandise are to be announced soon.