Wednesday, June 22, 2011

ZAGG Buys iFrogz

Salt Lake City-based ZAGG, the manufacturer of protective skins for consumer electronics products, said Tuesday evening that it has acquired iFrogz, an audio and mob ile device accessory firm. The deal was worth approximately $105M. iFrog designs protective cases, headpones, and earbuds for the smarpthone, tablet, and mobile device market; the firm is based in Logan, Utah. iFrogz had $40.9M in revenue in 2010, and according to ZAGG is expected to generate over $60M in revenues in 2011. The acquisition was made up of $50M in cash plus 4.4. million restricted shares of ZAGG common stock, plus $5.0M in assumed debt.