Hasbro, Inc. (NYSE: HAS - News) and Sesame Workshop, the nonprofit educational organization behind Sesame Street, announced a 10-year global strategic alliance that will give Hasbro the rights to manufacture and market a wide-range of toys and co-branded games based on the beloved characters of Sesame Street. The range of products, featuring Elmo, Big Bird, Abby Cadabby and Cookie Monster, among others, will be designed to simultaneously entertain and educate young children. New Sesame Street products from Hasbro’s PLAYSKOOL and games brands will be available in stores beginning in 2011.

“We are very pleased to form a global strategic alliance with Sesame Workshop,” said Brian Goldner, Hasbro’s President and CEO. “Sesame Workshop has an amazing portfolio of characters that children have enjoyed in a variety of forms for decades, and Sesame Street is a brand that parents trust. Hasbro fully embraces Sesame Workshop’s philosophy and mission, and we see this new alliance as an ideal strategic fit,” Goldner said.

“At the heart of Hasbro’s business is making fantastic games, toys, lifestyle and entertainment products that are enjoyed by people of all ages worldwide,” said Gary E. Knell, Sesame Workshop’s President and CEO. “We are thrilled to work with the leading provider of play to provide families with an extended and engaging Sesame Street experience.”