Malibu Boats announced that it has licensed its industry-leading wakesurfing patent portfolio to Wake Worx, LLC. Wake Worx supplies the Super Surf'R Aftermarket Surf Tabs to marine manufacturers, primarily in the sterndrive segment.
"This means that almost every sterndrive 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.