Jakks Pacific, Inc., is partnering with NantWorks, LLC, to incorporate new image recognition technology into select product lines. Jakks will have the exclusive right to arrange for partnerships with other toy companies to make the image recognition platform available to them in the development, sale, and marketing of their toy products. There will be a profit-sharing arrangement for these third-party toy partnerships. DreamPlay Toys, the joint venture overseeing this technology integration, will also include a consumer products division.
Jakks has also announced its acquisition of Maui Toys. Jakks has acquired all of the shares of stock of the privately held toy company as well as its Hong Kong-based affiliate, A.S. Design Limited.
This post was originally written by Ali Mierzejewski and published by ToyBook.com. For more news, visit www.toybook.com, follow The Toy Book on Twitter, and like The Toy Book on Facebook. The Toy Book is a bimonthly trade magazine covering the toy industry, published by Adventure Publishing Group.