A huge merger has occurred in the mobile accessories space: ZAGG has acquired Mophie, maker of iPhone battery pack cases and more.
Randy Hales, CEO of ZAGG said in a statement “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.”
Daniel Huang, mophie CEO said both companies have strong brands and shared values, so “The rationale for the merger is powerful and the combination enhances each company’s growth strategy while offering a truly compelling value proposition.”
The deal, explains both companies, will benefit retail customers with “creative product solutions” and a broader distribution channel and retail presence.
ZAGG will pay mophie $100 million at closing, funded by cash, debut and up to $5 million in common stock. Mophie’s CEO and COO will continue their current roles but report to ZAGG CEO Hales.
What do you think of this merger? Let’s see what both of these companies combined can churn out.
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It’s a shame zagg is worth so much, selling highly marketed pieces of plastic film and glass when you can get something that does the same job on eBay for less than a tenth of the price. Their markups must be huge.
I guess with screens becoming stronger and more scratch resistant, and they need to diversify.
Same could be said about Apple phones, when similar phones can do the same for less $$$
I rather like Zagg products. Granted you can get similar ones on eBay and Amazon, but with my experience you get what you pay for. Often the cheaper ones don’t repell finger prints all to well, and in some cases I’ve experienced, scratched easier than zagg
What happened to Zagg original full body films? Had hoped to pick up a set a few months back but could only find the front glass films on their website.