Accessory-maker ZAGG Acquires Battery Case Maker MophieBy cheatmaster 12:21 Sat, 31 Jul 2021 Comments
ZAGG, makers of InvisibleShield classy screen protectors, tablet keyboards and more, will acquire battery case maker Mophie. The deal is expected to close at the beginning of April, subject to regulatory approvals.
The merger will create a leader in market share for the two companies' respective fields. It will also improve product development and expand distribution.
This will come from strengthened manufacturing in China and will leverage established distribution in the US, Europe and Asia. With combined engineerings and branding efforts, ZAGG believes it can bring better product development and increase brand recognition.
ZAGG will pay $100 million, plus a bonus based on whether Mophie sales surpass $100 million for the year following April 1 2016. Mophie CEO and COO will haged their current positions, but will now respond to ZAGG CEO, Randy Hales.
Source | Via
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