Zagg has acquired popular battery case maker Mophie, the two companies announced on Tuesday. The Utah-based accessory giant has agreed to pay $100 million for Mophie, plus any EBITDA adjustments over that amount for the next year, in cash and debt.
In a press release sent out this afternoon, Zagg said that the transaction will leverage the unique strength of two “industry leaders” in the mobile accessories sector to create a business with greater product diversification and improved operational capabilities.
“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,” said Randy Hales, President and Chief Executive Officer of ZAGG. “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.”
Daniel Huang, mophie CEO said, “ZAGG and mophie represent two companies with strong brands and shared values. Together, we intend to build on our market leadership to deliver great products, advance the brand, and increase our global presence.”
Zagg produces a number of mobile accessories, from keyboards to cases, but it’s likely most well known for its InvisibleShield screen protectors. Mophie of course earned its notoriety for being a leader in the iPhone battery case/external battery pack space.
Source: Zagg