Popular accessory maker Zagg known for its Invisible Shield Screen Protector has announced its plans to acquire iFrogz another popular mobile phone accessory maker for the sun of $105 million in stocks and cash. Even though it will be owned by Zagg, iFrogz will remain independent within Zagg and continue to produce accessories that are targeted at iPhone users which includes cases and headphones. Zagg knows that it will profit from the market that iFrog has made for themselves, in 2010 iFrogz generated $40.9 million of revenue, and for 2011 it is expected to generate more than $60 million. The buyout terms states that Zagg acquired all of the outstanding stock of iFrogz for $50 million of cash, $4.4 million restricted shares of Zagg common stock, and assumed approximately $5 million of outstanding debt.
“We are grateful to be able to share the financial success of this transaction with our dedicated employees,” said Clay Broadbent, senior vice president of iFrogz.