ZAGG Inc acquires Gear4
ZAGG Inc has acquired Gear4, a UK smartphone case brand, with growing global distribution, from STRAX AB for US $40 million, the equivalent of 1X 2018 projected sales. Accounting for 23 per cent market share in the U.K. and having experienced significant growth in North America this year, Gear4’s extensive range of impact absorbing smartphone cases covers all leading handsets. Gear4’s cases exclusively feature D3O® technology, the thinnest and most advanced impact and shock absorbing material currently used in professional sports, industrial and military equipment applications. ZAGG Inc is a global leader and innovator in accessories and technologies that empower mobile lifestyles through its award-winning product portfolio that includes screen protection, power management, mobile keyboards, and personal audio.
With more than 1.9 billion smartphones predicted to ship during 2018, the Gear4 acquisition complements the ZAGG Inc product portfolio and provides credible access of a growing brand to a large category driven by demand for mobile devices globally. Gear4 will benefit from the acquisition by leveraging ZAGG Inc’s expansive global distribution footprint to drive increased sales and profitability. In addition to the license for D3O technology, ZAGG Inc will acquire the Gear4 corporate headquarters located in Maidenhead and retain the services of its employees in the US,, Canada, UK, and Hong Kong.