Womanizer and We-Vibe combine to form WOW Tech Group
Posted: June 1, 2018
In a joint announcement, Womanizer Group and We-Vibe makers Standard Innovation Corporation have stated that the two companies are combining forces to create a new global pleasure product leader. The statement says the newly founded holding company, WOW Tech Group, will further develop the We-Vibe and Womanizer brands through new investments in innovation, marketing and promotion, broadening the geographic reach, and management of intellectual property.
“The combined company brings together two of the industry’s most successful, innovative and recognized brands,” said Johannes Plettenberg, managing director of Womanizer Group. “We-Vibe and Womanizer have much in common. Both lead the industry in innovation, technology, and superior product design. Bringing together the teams behind these brands provides an exceptional foundation for a new phase of growth.”
Frank Ferrari, president of Standard Innovation, added: “We-Vibe and Womanizer are poised to take advantage of their complementary strengths to benefit our retail and distribution partners, and consumers. The industry can expect new innovative products and superior marketing from leading brands that elevate the category, and our customers can expect enhanced service from a trusted, reliable partner.”
Under the terms of the agreement, Womanizer Group acquires all outstanding shares of Standard Innovation, and Standard Innovation shareholders reinvest in the combined entity. The teams behind both brands will continue in place although Standard Innovation founders, Bruce and Melody Murison, will be investors in the new company but will no longer be involved in management operations.