#Watersports News: Malibu Boats (NASDAQ: $MBUU) Announces License With Wake Worx
LOUDON, TN - August 23, 2017 (Investorideas.com Newswire) Malibu Boats (NASDAQ: MBUU), the world's largest manufacturer of watersports towboats, announced today that it has licensed its industry-leading wakesurfing patent portfolio to Wake Worx, LLC. Wake Worx supplies the popular Super Surf'R Aftermarket Surf Tabs to marine manufacturers, primarily in the stern drive segment.
"This means that almost every stern drive company incorporating a surf wake enhancement device on their boats, and five of the top six inboard companies, are now licensed under Malibu's portfolio of surf technology patents," said Malibu Boats CEO Jack Springer. "We invested many hours and millions of dollars developing our surf technology and we will continue to defend our industry-changing innovations until all unauthorized adopters are under license and have accounted for their prior infringing activities."
The license agreement with Wake Worx includes a one-time lump sum payment and an ongoing per unit royalty on Wake Worx sales.
Malibu Boats is the world's largest manufacturer of watersports towboats, owning over one-third of the worldwide market share. Malibu sells the Wakesetter, M235 and Response models -- as well as the Axis Wake Research brand -- through a global dealer network. With approximately 525 employees worldwide and three manufacturing facilities in California, Tennessee, and Australia, Malibu builds boats to help you live a #lifewithoutlimits on the water. (NASDAQ: MBUU) | @malibuboats | #evolutionproseries
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