In a deal valued at US$100 million, accessory manufacturer ZAGG has acquired another well-known manufacturer of accessories -- mophie. Despite the irreconcilable differences in their use of upper or lower case, the two companies are actually a good fit for each other. As noted in a press release sent out today, the combination of the two companies will create the market leader in four different accessory categories; battery cases, external batteries, screen protection and tablet keyboards.
In 2015, the two companies had combined net sales of about $470 million. The new entity (no word yet on whether they'll change the name of the combined company) expects to see growth through strengthened product development and expanded distribution.
The companies expect the deal to be consummated in the first quarter of 2016 dependent on regulatory approval.