LONDON — Go go Power Rangers. Haim Saban’s newly formed Saban Brands has acquired lifestyle company Paul Frank Industries, including all company assets and intellectual property and the omnipresent monkey, Julius, that reps the Paul Frank brand.

It marks the second acquisition in the $500 million fund for Saban Brands, controlled by Power Rangers franchise owner Saban.

Saban Brands, an affiliate of Saban Capital Group, will be responsible for managing PFI’s business strategy moving forward, while creative operations will be based in its current headquarters in Costa Mesa, California.

The company plans to develop new content and media opportunities based on PFI’s portfolio of more than 150 characters, headlined by Julius. Property will be showcased at Brand Licensing Europe in October.

Deal is believed to be worth near $50 million, though financial terms were not disclosed.

Saban Brands was set up to earlier this year to acquire brands and existing franchises with worldwide and multiplatform potential.

Saban re-acquired Power Rangers from Disney in May, the franchise that built Haim Saban’s fortune in the 1990s. The Mouse House inherited the property that fuelled Saban’s early fortune with its 2001 purchase of Fox Family Worldwide from Saban Entertainment and News Corp.