In an announcement by Zagg, it has been revealed that Zagg will be buying out Mophie for $100 million and merging both companies. The deal has been approved by the boards of both companies and is expected to close later in the first quarter, assuming that all regularly checks and hurdles have also similarly been cleared.
According to Zagg’s CEO Randy Hales, “We are combining with a talented group of people. We believe we are coming in at just the right time. It’s a growth business, headed in the right direction.” Hale’s sentiments were similarly echoed by Mophie’s CEO, Daniel Huang.
Huang was quoted as saying, “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.”
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