Optimal Group snaps up WowWee for $65 million

It looks like WowWee's growing robot army will soon have a new boss to answer to, as Montreal-based Optimal Group announced today that it's agreed to purchase the robot "toy" maker for $65 million. According to The Canadian Press, Optimal says WowWee's management will remain as it is, and there's no word of any other changes to the company. From the looks of it, Optimal isn't an entirely obvious fit for WowWee, with it beginning as a developer of retail self-checkout systems in 2004 before shifting its focus to online payment processing, a business it's now apparently considering selling. Under this new deal, Optimal will fork over $55 million in cash, plus $10 million in shares for WowWee, which has reportedly seen its earnings drop to just $5 million in 2006, down from $27.5 mil in 2005.

[Thanks, David]

[nih @ Sep 27th 2007 11:05AM]

Isn't Optimal Prime the head of the Autobots?

I've seen the recent documentary with the teenager, his hot girlfriend and the dopey secret service guys. This can't end well.

[Kurtis @ Sep 27th 2007 12:11PM]

no

[paloooz @ Sep 27th 2007 12:18PM]

Optimus Prime, shitwit.

[jason @ Sep 27th 2007 1:00PM]

Nih - Your powers of sarcasm are wasted on the lesser flesh-beasts. Having been dubbed 'NBE-1" by similar flesh-beasts I would have to say that it is time for me to utterly subjugate them. I will end the reign of Optimal Prime and the so-called Autobots.

[nih @ Sep 29th 2007 4:12AM]

Kill away. Start with the two asstunnels above you.

[strider_mt2k @ Sep 27th 2007 12:15PM]

Let's hope they don't mess things up for the Wowie folks.

[Johny @ Sep 27th 2007 2:12PM]

I for one Welcome our Robot Overlords new Overlords.