The two companies are set to launch the online game in 2012 in North America, Latin America, Europe, New Zealand and Australia.
UK-based Jagex is an independent game developer with over 40 online games in its portfolio. The company's flagship game, RuneScape, is the world's most popular free-to-play MMOG.
“Hasbro’s decision to align with Jagex speaks to the quality of their award-winning development and publishing team that boasts an outstanding track record of delivering innovative and fun online games capable of reaching millions of gamers across the globe,” said Mark Blecher, senior VP and general manager of digital gaming and media at Hasbro.
“We are extremely excited to create a dream team that combines Transformers brand stewards with Jagex development experts to deliver an epic Transformers gaming experience to fans in 2012.”
Mark Gerhard, CEO at Jagex Games Studio, added: "Transformers is one of the most iconic brands in the world and we are delighted to team up with Hasbro in order to bring our shared vision to reality.
"There is a huge appetite for an online Transformers game and we will utilize every bit of our development and publishing expertise to deliver a dynamic and action-packed game that Transformers fans will find irresistible."