Zagg acquires Mophie for more than $100 million
The maker of the popular Invisible Shield screen protector, ZAGG, announced it has acquired Mophie, known for its JuicePack battery case for smartphones.
The deal, expected to close this quarter, is structured at more than $100 million, as Zagg will pay a flat acquisition price of $100 million and pay bonuses based on Mophie's performance over the next year.
The two companies believe the deal will improve brand strength, improve global distribution channels, and enhance profitable growth.
Combined, Zagg and Mophie brought in roughly $470 million in revenue during 2015 and look to take on LifeProof and OtterBox, who merged in 2013.
"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," said Randy Hales, CEO of ZAGG.