LOUDON, Tenn., Feb. 9, 2015 (GLOBE NEWSWIRE) -- Malibu Boats, LLC, the leading innovator and pioneer of modern wakesurfing technology, including the standard-setting Surf Gate system, today announced that it has settled the patent infringement case brought by Malibu against Nautique Boat Company before the U.S. District Court for the Eastern District of Tennessee. The settlement includes payment for past use and a royalty-bearing license to Nautique under key portions of Malibu's patent portfolio relating to wakesurfing technologies. Terms of the agreement remain undisclosed.
"We are pleased to conclude the litigation between our companies in a manner that respects Malibu's patents," said Jack Springer, CEO of Malibu. "As Malibu continues to innovate and to build its patent portfolio, it is gratifying for us to reach a settlement with Nautique that recognizes the value of our patents and helps us to determine if others are infringing Malibu's IP."
Malibu offers the best-selling and most versatile watersports boats in the world. Whether for waterskiing, wakeboarding or wakesurfing, Malibu's game-changing innovations provide the best boating experience available. Malibu's boats use a state-of-the-art digital command center combined with cutting-edge G4 tower and the Power Wedge II and Surf Gate systems to give boaters an unrivaled level of control and performance.
MALIBU BOATS, the Malibu Logo, POWER WEDGE and SURF GATE are registered trademarks of Malibu Boats, LLC.
CONTACT: Media Contact Malibu Boats, Inc. Mike Quinlan Director of Marketing (865) 458-5478 Investor Contacts Malibu Boats, Inc. Wayne Wilson Chief Financial Officer (865) 458-5478 ICR John Rouleau/Rachel Schacter (203) 682-8200 John.Rouleau@icrinc.com Rachel.Schacter@icrinc.comSource:Malibu Boats