Published On:2016/02/03
Posted by Unknown
Mophie Case Maker Bought For $100m
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| Mophie Case Maker Bought For $100m |
ZAGG , best known for its line of Invisible Shield screen protectors, announced announced it has acquired Mophie, known for its JuicePack battery case for smartphones.
The deal, expected to close this quarter, is structured at more than $100 million, as Zagg will pay a flat acquisition price of $100 million and pay bonuses based on Mophie's performance over the next year.
They hope that deal will improve brand strength, improve global distribution channels, and enhance profitable growth.
Zagg will pay $100M for Mophie up front, plus a flexible 12-month earn-out based on Mophie’s performance over the next year. ZAGG says they expect the deal to close within the quarter.
In a world of billion-dollar software “unicorns”, $100M for a well-established and well-distributed brand actually seems pretty cheap. On the other hand, Mophie focuses almost entirely on USB battery packs and smartphone battery cases — and that’s quickly becoming a ridiculously crowded space, with competition from everything from no-name white label batteries handed out as conference swag, to affordable-but-generally-decent newcomers like Aukey and Anker, to Apple.