The deal will introduce a range of lower-priced products to WoWee's portfolio and allow access to extra distribution channels. The firm's technological strength and operational organization will also be strengthened.
Think Tank Toys manufactures plush toys, action figures, promotional toys and a range of licensed lines including Hannah Montana, High School Musical and Mr. Men.
The company was founded in late 2006 by toy industry veteran Scott Bachrach, its president and CEO.
Richard Yanofsky, CEO of WowWee Canada said:
“Scott has an extensive background in identifying trends and we are thrilled to have him and the rest of Think Tank join our team. This agreement allows us to continue to broaden our business and deliver entertainment products for all ages and at all price points.”