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Increases brand portfolio, expands product offerings and broadens retail distribution.
Expected to be immediately accretive to earnings per share.
"This transaction represents an exciting next step in ZAGG's evolution,
and gives us scale within the rapidly growing protective cases and audio
products markets by allowing us to immediately broaden our product line
and drive the growth of our retail footprint," said
iFrogz designs, manufactures and distributes protective cases,
headphones and earbuds, and other accessories for smartphones, tablets
and mobile devices under the iFrogz™ and EarPollution™ brands. The
Company has built a reputation for selling high quality, fashionable
products geared toward a youthful demographic at affordable price
points. iFrogz products are sold worldwide through leading retailers
such as AT&T, Best Buy and Walmart. The Company is based in
Under the terms of the definitive agreement,
Going forward, iFrogz will operate as a wholly-owned subsidiary of
Webcast Information
Further information about this transaction can also be found on the Company's website at www.ZAGG.com/investors.
About
ZAGG® is a leading mobile device accessories provider featuring
innovative films, skins, audio and power solutions that protect,
personalize, and enhance the mobile experience.
FORWARD-LOOKING STATEMENTS
All statements, other than statements of historical fact included in this release, are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. The reader is cautioned not to place undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of the Company. The forward-looking statements in this document address a variety of subjects including, for example, the expected 2011 revenue of iFrogz and the potential benefits of the acquisition. In addition to the risks and uncertainties noted in this release, there are certain factors that could cause actual results to differ materially from those anticipated by some of the statements made. These include: (1) the ability to achieve business plans, including with respect to more value-conscious consumers and growing existing sales and volume profitably despite high levels of competitive activity, especially with respect to the product categories and geographical markets (including developing markets) in which the Company has chosen to focus; (2) successfully managing and integrating iFrogz; (3) the ability to manage and maintain key customer relationships; (4) the ability to maintain key manufacturing and supply sources (including off-shore supplier and plant manufacturing sources); (5) the ability to successfully implement, achieve and sustain cost improvement plans in manufacturing and overhead areas; (6) the ability to successfully manage currency (including currency issues in volatile countries), debt (including debt related to the Company's acquisition of iFrogz) and certain commodity cost exposures; (7) the ability to stay close to consumers of mobile devices in an era of increased media fragmentation; (8) the ability to stay on the leading edge of innovation; and (9) the ability to successfully manage regulatory, tax and legal matters (including patent, and other intellectual property matters). For additional information concerning factors that could cause actual results to materially differ from those projected herein, please refer to our most recent 10-K, 10-Q and 8-K reports.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed acquisition, the Company has filed a
Form 8-K with the
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6767258&lang=en
Company:
nnelson@zagg.com
or
Investor
Relations:
krogersc@genesisselect.com
or
Media
Contact:
LANE PR
Amber@lanepr.com
Source:
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