PLAINVIEW, N.Y.-Toymax International Inc. formed a subsidiary, Maxverse Interactive Inc., to create wireless toys targeted at teens and children.
The subsidiary was formed with $4.6 million in Toymax stock.
Maxverse has a variety of wireless toys scheduled for release this year, including WireFly, which the company bills as a wireless device “designed specifically to suit the lifestyle needs of today’s increasingly mobile, information-craving teens.”
