Sunday, October 23, 2016

ZAGG to get keyboard components marketplace, & Mophie battery, display safety

Common item producer Zagg today declared that it’s obtained Mophie, another accessory producer most widely known because of its iPhone battery cases and energy components. The offer might find purchase Mophie for $100-million. Mophie boss Daniel Huang and may are accountable to Zagg boss Randy Hales and COO Shawn Dougherty may continue their present particular functions.

Within the news release, Hales stated that the purchase allows both companies provide a level greater client and buyer encounter than they might as separate businesses and to interact. Zagg boss Daniel Put echoed emotions that are similar, stating the relationship might find the world grows around and proceed to innovate within the cellular marketplace.

“This proper mixture of two business leaders with contrasting manufacturer item and submission systems may allow us to provide improved price for investors and the clients,” said Leader Hales and Ceo of ZAGG. “We observe numerous possibilities to generate revenue expansion and boost success by using the talents of both businesses to reinforce solution improvement, enhance model existence, and increase distribution.”

Zagg notices the cost might improve on the basis of the organization’s modified profits between April 1st, 2016 as the “conclusive” offer achieved nowadays is for $100-million. Mophie, Zagg and mixed brought during 2015 in roughly $470 thousand in income.

A meeting will be held by zagg call today at 6:30 PM ET to go over the combination. The call could be streamed from Zagg’s site here. The entire news release for that purchase is visible below:

ZAGG and mophie to Mix, Making Varied Chief in Cellular Extras

Organization Launch – 2/2/2016 5:00 PM ET
  • Mixture types marketshare leader in four leading item groups; battery cases, exterior batteries, display safety, and pill keyboards
  • Combination to produce cellular components head with mixed 2015 internet revenue of around $470 thousand
  • Fresh organization likely to improve long term business worth through income expansion, increased solution improvement, and extended submission

SALT LAKE CITY, Feb. 02, 2016 (GLOBE NEWSWIRE) — ZAGG Inc (NASDAQ:ZAGG) and mophie inc. (“mophie”) introduced today the signing of the specified merger contract under which ZAGG may obtain mophie. The deal will influence two business leaders within the cellular components sector’s initial talents to produce a company with enhanced functional abilities and higher product diversity.

“This proper mixture of two business leaders with contrasting manufacturer item and submission systems may allow us to provide improved price for investors and the clients,” said Leader Hales and Ceo of ZAGG. “We observe numerous possibilities to generate revenue expansion and boost success by using the talents of both businesses to reinforce solution improvement, enhance model existence, and increase distribution.”

Mophie Ceo, Daniel Huang, stated, & ZAGG ldquo and mophie represent two businesses with shared ideals and powerful manufacturers. The explanation for that combination is effective and the mixture improves rsquo & each organization while supplying a proposition that is genuinely persuasive. Together, we plan to develop on our marketplace management to provide excellent items, improve the manufacturer power, and improve our worldwide existence in cellular accessories.”

Key Proper and Monetary Advantages ZAGG and mophie assume the combination may provide the next advantages:

  • Enhanced Abilities for Profitable Growth: The mixture will generate a better engineering system, increased executive and production assets in China, plus a worldwide circulation network with amenities within the U.S., Europe, and Asia.
  • Best-in-Class Product Improvement: Retail clients and cellular customers may enjoy the positioning of powerful solution improvement groups which are centered on providing Innovative Item Options.
  • Enhanced Manufacturer Power: The brand strength of the mixed businesses is likely to be leveraged to improve customer consciousness via an extended worldwide system and concentrate on usually being Preferred Manufacturer.
  • Extended Global Distribution Programs: The mixed organization expects to help improve its Specific Worldwide Submission via a larger retail existence and fresh product introductions.
  • Enhanced Economic Account: The mixture is likely to improve online revenue and modified EBITDA having a concentrate on using operational advantages and efficiency.

Deal Framework

ZAGG has decided to spend $100-million at final, plus the total amount through which Adjusted EBITDA exceeds $100-million over a-12-month generate-out interval. The 12-month generate-out interval may operate to March 31, 2017 from April 1, 2016. The price at final is likely to be financed with debt and money. The generate-out is likely to be funded via a mixture of debt money and as much as $5 trillion in ZAGG common share. The contract additionally enables mophie to gather roughly $15-million from particular pre-combination duty and custom responsibilities discounts and property purchase profits, if obtained post-final.

Throughout the generate-out interval the administration groups works collaboratively to recognize functional advantages from both businesses through the ownership of guidelines.

Administration, Government and Incorporation

Upon final of the deal and through the generate-out interval, equally Daniel Huang (boss) and Shawn Dougherty (COO) may proceed within their present functions and statement straight to Randy Hales. ZAGG& rsquo board of directors’ structure won’t alter with this deal in connection.

Approvals and Time for You To Shut

The deal is likely to shut throughout 2016 susceptible to traditional closing conditions’ first-quarter . The deal has been all accepted by the board of every organization.


ZAGG obtained legal counsel from Pinegar & Durham Smith and economic guidance from D.A. Davidson; economic guidance from Wunderlich Investments, and mophie obtained legal counsel from Nemer LLP.

Conference-Call and Webcast Facts

ZAGG may host a meeting call and webcast Tuesday, Feb 2nd at 6:thirty p.m. Eastern Time (U.S.) to go over the planned combination. Hales, Leader and boss, help a short query and answer period and may examine the statement. The general community is asked to hear the call using a live webcast through the Investor Relations portion of the ZAGG site. For all those not able to pay attention to the broadcast, a replay is likely to not be unavailable on the site starting roughly two hours following the occasion. A podcast and the webcast is likely to be accessible and aged online on rsquo & ZAGG;s site for at twelve months following a call.

About ZAGG Inc

ZAGG is definitely an invention leader in components for pills and smartphones. For 10 years, ZAGG is promoting innovative merchandise options that safeguard and improve cellular devices for customers all over the world. The Organization comes with an award winning item profile which includes cellular keyboards display safety, power-management options, interpersonal technology, and individual sound offered underneath the ZAGG®, reg & InvisibleShield ;. ZAGG has procedures within Ireland, the Usa, and China.   ZAGG items can be found global, and are available at top merchants including Verizon Bestbuy, AT&T, Run, Walmart, Vodafone, and EE. To find out more about ZAGG, visit and follow us on Fb, Facebook and Instagram.

About mophie, inc. 

Mophie, #1 lightweight energy producer in The United States, and the #1 marketing battery situation producer on the planet, is just a Florida-centered, award-winning producer and custom that enables the cellular world to remain effective. Broadly recommended for revolutionary options that are cellular, mophie may be the happy creator of reg & the initial liquid group;. Mophie items are acknowledged for type and designed for efficiency, supplying a incorporation of software equipment and style. Mophie has procedures in China, and Florida, Mi, Holland, Hongkong. Mophie items can be found in over 130 nations, and are available at Bestbuy Apple, Verizon, and T Mobile shops, in addition to Run and other top merchants. Visit and follow us on Fb, facebook, and Instagram (@mophie).

Safe Harbor  along with the historic data found in this news release, this release includes (and dental communications produced by ZAGG might include) claims that relate solely to potential occasions and objectives and, as a result, represent forward looking statements inside the meaning of the Personal Securities Litigation Reform Act of 1995. Any claims that show, or include conversations regarding, targets, values, ideas, goals, perspective, assumptions, or potential occasions or efficiency, frequently, although not usually, through the usage of phrases or terms for example “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” or related words, aren’t claims of historic details and might be forward looking. Visitors are informed that statements are susceptible to numerous questions and dangers that may trigger results, occasions, or potential conditions to vary materially from these estimated within the forward looking statements. Along with any assumptions and additional facets and concerns known particularly regarding the such forwardlooking statements, facets that may cause actual outcomes or results to vary materially from these found in forwardlooking statements range from the following: final of the transaction might not happen or might be postponed; predicted synergies and additional advantages of the transaction may possibly not be recognized; incorporation of the purchase article-final might not happen as expected; administration period is likely to be diverted to deal with deal-associated problems; lawsuit associated with the transaction or restrictions or limitations enforced by regulatory specialists might postpone or adversely influence the Deal or even the article-deal mixed company; unexpected restructuring expenses might be sustained or undisclosed debts thought; efforts to keep essential employees and clients may possibly not be effective; the business enterprise mixture or even the mixed company’s items may possibly not be backed by third parties; steps by rivals might adversely effect outcomes; and there might be damaging adjustments in general fiscal conditions within the areas or even the sectors where the businesses run. Any forward looking record talks just by the day which declaration that is such is created. Fresh factors arise from time to time and it’s difficult for administration to anticipate all such factors, or manages to do it gauge the effect of such factor about the company or even the degree to which any element, or mixture of factors, could cause leads to vary materially from these found in any forward looking statement. Additionally, ZAGG’s and mophie’s companies and procedures include numerous dangers and questions, a lot of that are beyond ZAGG’s and mophie’s handle, that could materially influence their particular economic situation, outcomes of procedures and money flows and those of the mixed company.  Visitors also needs to evaluate the dangers and uncertainties outlined in ZAGG’s newest Annual Report on Form 10-E and additional reviews the organization documents using the U.S. Investments and Exchange Commission, including (although not restricted to) Product 1A – “Risk Factors” within the Type 10-E and Administration’s Dialogue and Evaluation of Economic Situation and Outcomes Of Procedures and the challenges identified Therein to time from time. ZAGG disclaims any responsibility to update publicly any forward looking information, else, or whether in reaction to fresh information, potential occasions, except as needed by legislation that is appropriate.

About Low-GAAP Financial Info Visitors are informed the Modified EBITDA (profits before curiosity, fees, decline, amortization, inventory-based compensation expense, additional revenue (expense), and restoration of supplies on notice receivable) found in this discourse isn’t a monetary measure under US usually accepted accounting concepts (GAAP). Additionally, this economic data shouldn’t be interpreted as a substitute to every other way of measuring performance decided prior to GAAP, or as indications of operating efficiency, liquidity or money flows produced by running, trading and funding actions, as there might be substantial facets or developments they neglect to tackle. Adjusted EBITDA is presented by us since we genuinely believe that it’s useful to some traders like a way of measuring efficiency. We caution – financial info, by its character, leaves from nbsp & traditional its use makes it hard to evaluate outcomes that are present with the monetary outcomes of others and using outcomes from additional reporting intervals.

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