WowWee Acquired by Optimal Group for $65 million
Submitted by dsk on Mon, 2007-10-01 00:09.
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WowWee has been acquired by a Canadian comany called Optimal Group. It is a surprising purchase given that Optimal Group's primary business is to provide solutions for online credit and debit transactions. The press release (PDF) says that WowWee's revenues amounted to $117 million in 2006 and $131 million in 2005. Wow! The US made up 65% of WowWee's market.
The good news is that we can expect many more robot products from WowWee. Optimal says it intends to broaden WowWee's product portfolio and increase development of products that "combine computer connectivity, utility and entertainment". Furthermore, it seems that they want to continue working on branded and licensed products such as Elvis Alive and the Barry B. Benson Bee.
Company Overview Optimal
Company Overview
Optimal Group is a payments and services company with operations primarily in North America and the United Kingdom. Its business operations are carried through Optimal Payments and FireOne Group. Optimal Payments processes credit card payments, electronic checks and direct debits. And FireOne Group offers online gaming transactions. The company primarily operates in Canada. It is headquartered at Quebec, Canada and employs about 170 people.
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Well, I didn't video it, but
Well, I didn't video it, but last Christmas I ran a cage match between RoboSapien and a 10th Anniversary Tickle Me Elmo doll.
Elmo won, hands down.
Why? Several reasons.
First, it was hard to get RoboSapien to actually hit the buttons on Elmo's stomach.
But when you missed, and RoboSapien's finger sensors hit anything, he said, "Ouch."
When you hit, Elmo went into a frenzy, but as he finished he said "Do it again!"
And finally, if RoboSapien fell over, it was game over. Elmo could stand up on his own.
Rather mindless, but the 30 somethings liked it as much as the 8 year olds.
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