News Categories

ZAGG purchases battery case maker Mophie for US$100 million

By Cookie Monster - on 4 Feb 2016, 6:50am

ZAGG purchases battery case maker Mophie for US$100 million

 Image source: ZAGG

Mobile accessory maker ZAGG announced yesterday that it will buy battery case manufacturer Mophie for US$100 million.

In its press release, ZAGG states that both companies have signed a definitive merger agreement to "leverage the unique strengths 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.”

While the acquisition is expected to be completed by the first quarter of this year, ZAGG may have to pay more than US$100 million depending on the performance of Mophie between 1st April 2016 and 31st March 2017.

Source: ZAGG via Android Central

Join HWZ's Telegram channel here and catch all the latest tech news!
Our articles may contain affiliate links. If you buy through these links, we may earn a small commission.