Accessory maker ZAGG acquires battery case maker Mophie
Mophie is a quite known battery case maker. The company has been famed for quite some time now.
Don't Miss: Incredible Pokemon Gifts
ZAGG, InvisibleShield screen protectors and tablet keyboard manufacturers etc has decided to acquire the company.
It has been rumored that a complete deal has been finalized between the two companies.
The deal will close forever at the beginning of April because of the legal permissions and regulatory approvals etc.
The merger is expected to be beneficial for both the companies. It will create a leader in market share in their respective fields.
The merger caused by the deal is also expected to improve the quality and the product development of both companies, along with an expansion of distribution throughout the world.
The manufacturing and production will be done in China while the already established distribution centers, the US, Europe and Asia will remain the same.
ZAGG believes that with the partnership and combined ideas and engineering of both companies, it can introduce better product development and increase brand recognition.
ZACC has also declared that it will pay around $100 million along with a bonus based on whether Mophie sales surpass $100 million for the year after April 1, 2016.
Don't Miss: Nintendo Switch: Everything You Need To Know
CEO and COO of Morphie will hold their same positions but will be accountable to ZAGG CEO, Randy Hales for all actions.