SOURCE: Malibu Boats

Malibu Boats

November 11, 2016 10:05 ET

Malibu Boats, Inc. Announces License With Tige Boats

LOUDON, TN--(Marketwired - November 11, 2016) - 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 Tige Boats. Tige will use its license to continue equipping its product line with its existing wake surf offerings, but will not be offering Surf Gate or the Surf Gate brand.

"We are pleased that Tige has recognized the strength of our intellectual property and agreed to sign a license and forego potential litigation," said Malibu Boats CEO Jack Springer. Springer commented further by saying, "Respecting intellectual property rights helps encourage strong innovation in our segment and helps grow watersports for all of our loyal customers."

"I want to commend Tige for acting honorably and quickly, once we contacted them, to acknowledge the breadth and value of Malibu's extensive intellectual property for wake surfing. This allows both of our companies to focus on delivering boats and innovations to our customers."

The license with Tige represents the third marine company to agree to license Malibu's surf related intellectual property. Correct Craft and Chaparral Boats were the two previous marine companies who have taken a license for Malibu's wakesurfing IP portfolio.

About Malibu

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 | #thetruthisonthewater

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