Zagg, the popular smartphone accessory maker has acquired battery case maker Mophie for $100 million. Mophie is the company behind phone battery cases for the iPhone and select Android devices.
Zagg is known for its Invisible Shield screen protectors but it even sells speakers, headphones, smartphone cases and portable chargers and keyboards. Both companies signed a definitive agreement to combine their respective assets in a merger that will see Zagg pay out $100 million at closing. Hales said that Mophie will continue to operate mostly independently, with “guidance” from Zagg.
Randy Hales, President and CEO of ZAGG said
“This strategic combination of two industry innovators with complementary product, brand and distribution platforms will enable us to deliver increased value for our customers and shareholders. We see numerous opportunities to drive revenue growth and increase profitability by leveraging the strengths of both organizations to strengthen product development, improve brand presence, and expand distribution.”