ZAGG Inc Acquires HALO, a Leading Direct-to-Consumer Mobile Accessories Company with an Extensive IP Portfolio, for $43 Milli...
January 03 2019 - 4:05PM
ZAGG Inc (NASDAQ:ZAGG), a global leader and innovator in
accessories and technologies that empower mobile lifestyles, today
announced it has acquired HALO, a leading direct-to-consumer mobile
accessories company with an extensive IP portfolio, for a total
purchase price of $43 million in a combination of cash and stock.
HALO has a rich history in innovation and a broad IP
portfolio—including wireless charging, car and wall chargers,
portable power, power wallets, and more—and a long-standing
reputation as one of the top selling electronics brands on QVC®.
The addition of HALO strengthens ZAGG’s product, brand,
distribution, innovation pipeline, and IP portfolio while
furthering its mission to empower the mobile lifestyle. HALO will
benefit by leveraging ZAGG’s expansive global distribution
footprint and expertise in building preferred brands to drive
increased sales and profitability. ZAGG gains a profitable business
that will contribute incremental revenue and accretive gross
margins, while also expanding ZAGG’s distribution network through a
strong relationship with QVC, a global leader in televised
home shopping and e-commerce. By combining forces, ZAGG will be
unique in offering, at scale, the most innovative mobile lifestyle
solutions available on the market today and better positioned to
address the evolving needs of consumers around the world. ZAGG will
retain the services of HALO’s talented senior leadership team and
employees in the U.S., and the Cayman Islands.
“The acquisition of HALO is consistent with our commitment to
offer the most innovative products, gives us access to an
incredibly strong IP portfolio, and allows us to strategically
expand product distribution,” said Chris Ahern, CEO of ZAGG Inc.
“It creates meaningful value for our shareholders through the
addition of a powerful new and profitable revenue stream along with
an entrée into the multibillion-dollar televised and online home
shopping channel. HALO’s business is immediately accretive to our
gross margins, and provides us with incremental and diversified
growth opportunities as we continue toward our goal of $1 billion
in annual revenue and enhanced profitability.”
Durham Jones & Pinegar, P.C. acted as legal counsel to ZAGG
in the transaction. Sullivan & Worcester LLP acted as legal
counsel to HALO in the transaction.
About ZAGG IncZAGG Inc (NASDAQ:ZAGG) is a
global leader in accessories and technologies that empower mobile
lifestyles. The Company has an award-winning product portfolio that
includes screen protection, power management solutions, mobile
keyboards, and personal audio sold under the InvisibleShield®,
mophie®, ZAGG®, BRAVEN®, IFROGZ®, and Gear4® brands. ZAGG Inc has
operations in the United States, Ireland, the U.K., and China. For
more information, please visit the company’s websites
at www.zagg.com, www.mophie.com, and Gear4.com.
About HALOHALO designs, develops and markets
innovative technology products to make consumers’ lives easier. The
company is a leading direct-to-consumer mobile accessories brand
that offers a wide array of products including wireless charging,
portable power, car jump starters, and power handbags that
incorporate aesthetically beautiful designs and pragmatic
functionality. HALO is committed to offering products at the nexus
of fashion and function created to power your life. The company has
operations in the United States and the Cayman Islands. For more
information, please visit the company’s website at
www.BestHalo.com.
Media Contact
ZAGG IncJeff DuBois801-506-7336jeff.dubois@ZAGG.com
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