Barney the Dinosaur signed up by Fisher Price

HIT Entertainment has signed a deal with Fisher Price to make and market pre-school toys based on Barney the Dinosaur.

It's HIT's first deal to exploit one of the characters owned by the Lyrick Corporation, which it is buying for $275m (£190.4m).

The range will also include electronic aids, games and puzzles inspired by the children's TV character.

HIT, the company behind Bob the Builder, gets the rights to the Barney character in a deal to be approved by HIT's shareholders at a meeting on March 5.

Peter Orton, Chief Executive of HIT Entertainment said: "Fisher-Price has a proven track record in developing the innovation that brings children's favourite characters to life.

"This world-wide deal indicates the true longevity of the Barney character."

Neil Friedman, President of Fisher-Price Brands, said: "As one of the top pre-school properties, Barney rounds out our exciting portfolio of the best character brands in the pre-school business."

Barney has his own show Monday to Friday and at weekends on the PBS channel in the US.

In January, Lyrick signed a new contract with PBS for 40 new episodes of Barney until 2007.