WowWee Lt. is a privately held, Hong Kong-based company founded by Richard and Peter Yanofsky. Initially from Canada, the two brothers moved to Hong Kong to form the company in 1982 as an independent research & development and manufacturing outfit. As an OEM seller, they produced products such as the Power Rangers Power Gloves and the Talking Tots dolls. In 1987 the company changed focus, building and marketing toys under their own brand in response to a fall in OEM orders. They produced a number of new products, including a robotic dog (MegaByte), T-Rex, and the Animaltronics and Dinotronics lines of remote control animals. In 1998 the company was purchased by Hasbro.