The new deal will see Ty produce a line of Beanie Babies based on the brand. Each of the four characters, Tinky Winky, Dipsy, Laa-Laa and Po, will be transformed into 6” Beanie Babies, which will launch in the UK and Ireland this autumn/winter.
Commenting on the deal, Richard Hollis, head of UK licensing for BBC Worldwide, said: “They may have conquered the globe, had a number one single, and graced many a magazine cover, but this deal marks another milestone for the Teletubbies.
"To be able to work with such an esteemed licensee as Ty is a testament to the appeal of the brand; it’s as much part of culture today as it was twelve years ago.”
BBC Worldwide are currently working on a number of new initiatives for the brand and will be announcing these in due course.