Mophie, known for its Juice Pack smartphone cases that are embedded with batteries, has been acquired by accessory manufacturer Zagg. The price of the transaction is a tentative $100 million. The purchase price can be higher depending on how Mophie performs between April 1, 2016 and March 31, 2017.
The combination of Zagg and Mophie will produce the market share leader in battery cases, external batteries, screen protection and keyboards for tablets. Together, both companies reported 2015 revenue of $470 million. The purchase is being funded by a combination of cash and debt, and will close during the first quarter of 2016.
"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. 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."-Randy Hales, President and Chief Executive Officer, ZAGG
ZAGG and Mophie represent two companies with strong brands and shared values. 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."-Daniel Huang, CEO, Mophie
Mophie launched its first Juice Pack for the Apple iPhone 3G
in 2008. Back then, the case featured an 1800mAh battery. The Mophie Juice Pack for the Apple iPhone 6s
features a 2750mAh battery and is offered in nine color options.
Zagg buys Mophie for $100 million