Accessory manufacturer Zagg has announced that it has signed a merger agreement to acquire iPhone battery case maker Mophie for $100 million plus additional adjusted earnings over $100m across a 12-month earn-out period. In a press release on Zagg’s website, the company notes that the combination of the two companies will create a market share leader in the battery case, external battery, screen protection, and tablet keyboard accessory categories, and that the combined 2015 net sales of the two companies were about $470 million. The merger will also create expanded distribution opportunities for both companies, and allow strengthening and consolidation of engineering and manufacturing resources in China. The merger is expected to close during the first quarter of 2016, subject to the usual regulatory approvals.
Zagg to acquire Mophie for $100 million
Jesse Hollington was a Senior Editor at iLounge. He's written about Apple technology for nearly a decade and had been covering the industry since the early days of iLounge. In his role at iLounge, he provided daily news coverage, wrote and edited features and reviews, and was responsible for the overall quality of the site's content.