The two brands will initially focus on wireless home audio: both speakers and high-fidelity headphones. WOOX Innovations says the global market for wireless home audio has seen growth year after year around the world.
The partnership will bring together "WOOX's extensive global sales organisation", and "Onkyo's highly regarded development of audio and speaker products".
Wiebo Vaartjes, CEO of WOOX Innovations, said: "Today's announcement is an important step forward in the implementation of our multibrand strategy, where we will collaborate with our partners in Gibson Brands to create and bring to market innovative products across a range of brands.
"Onkyo has a great heritage, advanced technology capabilities and a strong brand: this partnership will create value for our companies, for our retail customers and most importantly for consumers."
WOOX also says the partnership will allow both brands to "respond quickly to changing user needs and rapidly advancing technology."
Gibson accquired WOOX Innovations from Philips in June 2014 for an estimated £80m and has held a minority shareholding in Onkyo since 2012.
Onkyo has been keen to encourage consumers to invest in high-resolution audio and has been operating its e-Onkyo high-res music download store in Japan since 2005. A roll-out to the US, Germany and the UK, in collaboration with 7Digital, will happen later in 2015.
Onkyo has also stated it is developing new products that are capable of supporting Master Quality Authenticated, the new audio format developed by Meridian.