Smartphone accessory maker Zagg has announced it is purchasing Mophie in a deal which is worth $100 million.
Zagg is well known for making screen protectors and cases for smartphones, while Mophie is renowned for its battery cases for smartphones. This acquisition marks a significant milestone in the smartphone accessory market, combining the strengths of two leading companies to create a powerhouse in the industry.
About Zagg and Mophie
Zagg has built a strong reputation over the years for its high-quality screen protectors and durable cases. Their products are designed to offer maximum protection for smartphones, ensuring that devices remain in pristine condition even after accidental drops or scratches. Zagg’s InvisibleShield screen protectors are particularly popular, known for their clarity and toughness.
On the other hand, Mophie has carved out a niche for itself with its innovative battery cases. These cases not only protect smartphones but also extend their battery life, making them indispensable for users who are constantly on the go. Mophie’s products are especially popular among business professionals, travelers, and anyone who needs their phone to last throughout the day without frequent recharging.
The Strategic Merger
Mophie is one of the most popular battery case manufacturers available, and the merger of the two companies will create a company with combined annual sales of $470 million. This merger is expected to bring numerous benefits to both companies and their customers.
“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,” said Randy Hales, President and Chief Executive Officer of ZAGG. “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.”
The merger is not just about financial growth; it is also about innovation and expanding the product lineup. By combining their expertise, Zagg and Mophie can develop new products that integrate the best features of both brands. For example, we might see screen protectors with built-in battery packs or cases that offer both protection and extended battery life.
Impact on the Market
This merger is likely to have a significant impact on the smartphone accessory market. With their combined resources, Zagg and Mophie can invest more in research and development, leading to more innovative products. They can also leverage their combined distribution networks to reach a wider audience, making their products more accessible to consumers around the world.
Moreover, the merger could lead to more competitive pricing. With increased production capabilities and streamlined operations, the new entity might be able to offer high-quality products at lower prices, benefiting consumers.
Future Prospects
Looking ahead, the future seems bright for the combined entity. The smartphone market continues to grow, with more people relying on their devices for both personal and professional use. This trend is likely to drive demand for high-quality accessories that enhance the functionality and longevity of smartphones.
Zagg and Mophie are well-positioned to capitalize on this trend. By continuing to innovate and expand their product lines, they can meet the evolving needs of consumers and maintain their leadership positions in the market.
The acquisition of Mophie by Zagg is a strategic move that promises to deliver significant benefits to both companies and their customers. By combining their strengths, they can drive growth, enhance profitability, and continue to innovate in the smartphone accessory market.
You can find out more details about the deal between Zagg and Mophie over at Zagg’s website and the link below.
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