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LOUDON, Tenn., July 18, 2019 (GLOBE NEWSWIRE) -- Malibu Boats™ (NASDAQ: MBUU), the global leader in watersports towboat sales, announced today that it has licensed its industry-leading wakesurfing patent portfolio to Sanger Boats, a manufacturer and distributor of towboats.
"I commend Sanger for reaching out to us and engaging the licensing discussion. It was the right thing to do. Today, almost every stern drive company 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 are proud of our award-winning surf technology and will continue to defend that technology from unauthorized adopters.”
Based in Loudon, Tennessee, Malibu Boats, Inc. (MBUU) is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport, sterndrive and outboard boats. Malibu Boats Inc. is the commanding market leader in the performance sport boat category through its Malibu and Axis Wake Research boat brands, the leader in the 20’ – 40’ segment of the sterndrive boat category through its Cobalt brand and in a leading position in the offshore fishing boat market with its Pursuit brand. A pre-eminent innovator in the powerboat industry, Malibu Boats, Inc. designs products that appeal to an expanding range of recreational boaters, fisherman and water sports enthusiasts whose passion for boating is a key component of their active lifestyles. For more information, visit www.malibuboats.com, www.axiswake.com, www.cobaltboats.com, or www.pursuitboats.com.
Source: Malibu Boats