#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
Sports Stocks - esports, sports media, sports teams, sports betting, fantasy sports, sports equipment and more...
Like Sports Stocks? View our Sports Stocks Directory
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.om newswire http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.