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ZAGG buys Mophie for $100 million
ZAGG, a mobile accessory company that has carved out a number of niches spanning keyboards to cases, has just announced that they are buying Mophie for $100 million. For those not in the know, Mophie is known for being the company behind popular phone battery cases for the iPhone and select Android devices.
It appears the two are moving to build a third-party accessory empire together, perhaps in response to Apple recently unveiling their own Apple Smart Battery Case, which would rival Mophie’s most successful product currently on the market. Words from Randy Hales, the President and CEO of ZAGG, seem to confirm this. “This strategic combination,” Hales said, “of two industry innovators with complementary product, brand and distribution platforms will enable us to deliver increased value for our customers and shareholders,”
No word yet on what these ace accessory makers have cooking, but with the third-party market becoming increasingly competitive, it’s no surprise that companies are banding together to put up a fight against the bigger guys. It’s always interesting to see two innovators come together, so we look forward to seeing what ZAGG does with their new acquisition.
What do you think of this hundred million dollar merger? Something you’ll be following with interest, or just a yawn? Let us know in the comments below!