ZAGG and mophie to Merge

Mophie, known for its Juice Pack smartphone cases that are embedded with batteries, has been acquired by accessory manufacturer Zagg. Zagg has paid $100 million at deal closing for mophie, with a caveat that additional money may be paid out based on earnings over a 12 month period from April 1, 2016 to March 31, 2017. In 2013, Mophie renovated space for its headquarters and was doing business in 100 countries at over 20,000 locations, with sales jumping to $215.4 million. The brand Mophie you’ll know for their battery cases, creating double the uptime for many devices as they add a layer of protection to said devices in the process.

After the acquisition, Mophie will continue to function as an independent unit, with Zagg monitoring its performance.

Zagg and Mophie have just announced that they have reached a merger agreement whereby the former effectively acquires the latter. Together, both companies reported 2015 revenue of $470 million.

CEO and COO of Morphie will hold their same positions but will be accountable to ZAGG CEO, Randy Hales for all actions.

ZAGG believes that with the partnership and combined ideas and engineering of both companies, it can introduce better product development and increase brand recognition. The rationale for the merger is powerful and the combination enhances each company’s growth strategy while offering a truly compelling value proposition. “Together, we intend to build on our market leadership to deliver great products, advance the brand strength, and increase our global presence in mobile accessories”, said Daniel Huang, CEO of Mophie.