Optimal Group snaps up WowWee for $65 million
It looks like WowWee's growing robot army will soon have a new boss to answer to, as Montreal-based Optimal Group announced today that it's agreed to purchase the robot "toy" maker for $65 million. According to The Canadian Press, Optimal says WowWee's management will remain as it is, and there's no word of any other changes to the company. From the looks of it, Optimal isn't an entirely obvious fit for WowWee, with it beginning as a developer of retail self-checkout systems in 2004 before shifting its focus to online payment processing, a business it's now apparently considering selling. Under this new deal, Optimal will fork over $55 million in cash, plus $10 million in shares for WowWee, which has reportedly seen its earnings drop to just $5 million in 2006, down from $27.5 mil in 2005.
[Thanks, David]
[Thanks, David]
Filed under: Robots
Reader Comments (Page 1 of 1)
nih @ Sep 27th 2007 11:05AM
Isn't Optimal Prime the head of the Autobots?
I've seen the recent documentary with the teenager, his hot girlfriend and the dopey secret service guys. This can't end well.
Kurtis @ Sep 27th 2007 12:11PM
no
paloooz @ Sep 27th 2007 12:18PM
Optimus Prime, shitwit.
jason @ Sep 27th 2007 1:00PM
Nih - Your powers of sarcasm are wasted on the lesser flesh-beasts. Having been dubbed 'NBE-1" by similar flesh-beasts I would have to say that it is time for me to utterly subjugate them. I will end the reign of Optimal Prime and the so-called Autobots.
nih @ Sep 29th 2007 4:12AM
Kill away. Start with the two asstunnels above you.
strider_mt2k @ Sep 27th 2007 12:15PM
Let's hope they don't mess things up for the Wowie folks.
Johny @ Sep 27th 2007 2:12PM
I for one Welcome our Robot Overlords new Overlords.