Saban Brands’ Middle Eastern arm, Saban Brands Israel has launched a new toy firm to develop innovative lines based on its popular properties.
Called Wise Toys, the launch follows the acquisition of the Wise Pet brand, a set of smartphone and tablet protectors designed for babies and children.
The brand will now be joining Saban’s portfolio of iconic brands that includes the likes of Power Rangers and Paul Frank.
Wise Toys is expected to detail its new product designs, new tech features, strategic cooperations and major licensing programmes in the coming months.
“This acquisition is a significant step in our effort to deliver a new generation of innovative products, in a world where it is essential to provide rich experiences to children which are both enjoyable and educational,” said Gil Saban, CEO of Saban Brands Israel.
Yuval Gloz, CEO of Wise Toys, added: “Wise Toys will be focussing on expanding to new markets around the world as well as bringing new exciting products to markets, while constantly seeking strategic growth opportunities.”