Mattel to Sell Cyber Patrol to JSB Software

Troubled toy maker Mattel Inc. said it plans to sell its Cyber Patrol unit to London-based JSB Software Technologies in a deal worth $100 million. A spokeswoman for the El Segundo-based company said the decision to sell Cyber Patrol, a brand of Web filtering products Mattel acquired with its 1999 purchase of Learning Co., came before Mattel’s April announcement to unload the entire Learning Co. holding. Last year, Learning Co. lost more than $200 million, causing Mattel to lose money for the first time in a decade: $82.3 million in 1999, excluding one-time charges. Analysts have said Learning Co. is likely to fetch only a fraction of the $3.5 billion Mattel paid for it. But the rich price of Monday’s sale could indicate hidden value within Learning Co., analysts said. Mattel shares fell 13 cents to close at $13.13 on the New York Stock Exchange.