He knew something, but didn't have the whole story. Standard became a subsidiary of the Frederick Osann Co in 1929, and the Osann Co was purchased by Singer in 1934, so Singer "sort of" bought Standard.
http://www.sewmuse.co.uk/standard.htm
But sewing machines were being manufactured by Isaac Singer as early as 1851, with the Singer Manufacturing Company being formed in 1863. The Standard Sewing Machine Co only goes back to 1884.