The deal is anticipated to close in Q3 2016
The merger will offer new licensing opportunities
The transaction has been permitted by way of both firms‘ boards
Incipio and Skullcandy announced on Friday the 2 organizations would be merging, with the California-based customer technology firm satisfactory regarded for its mobile accessories agreeing to acquireUtah-based totally headphone maker in a cash deal well worth roughly $177 million.
Speakme at the merger settlement, Andy Fathollahi, CEO and founder of Incipio, stated in a jointassertion, “We’ve got lengthy in demand Skullcandy’s tradition of innovation and potential to create pioneering audio reviews with fine and fashion. Skullcandy and Astro make bigger our dynamic mix ofmerchandise and brands, while bolstering the technical and operational abilties that serve as the foundation of our platform. The crew at Skullcandy and its worldwide presence will also permit us toaccelerate the worldwide impact of our multi-logo offense.”
Hoby Darling, Skullcandy President and CEO, additionally commented, “We’re excited to be joining forces with Incipio Group as we trust it is in the great pursuits of Skullcandy and our shareholders. Theaggregate of our companies permits us to higher serve our purchasers and shops with targeted,exceptional-in-class products in more than one categories. We proportion a not unusual tradition,vision and commitment to using innovation and this merger will permit our two teams to extend their efforts going forward. also, importantly, we remain deeply committed to our groups, retail companions, ambassadors and community. Those things are all part of our DNA as a corporation born at themountains in Park Metropolis for Skullcandy and inside the era and gaming hub of San Francisco for Astro.”
The organizations added that the merger deal has been accredited by means of Skullcandy’s and Incipio’sforums of administrators, and that it’s miles predicted to shut within the 0.33 zone of 2016, situation to regulatory approvals.
The declaration provides that Skullcandy from July 23 this year has to quit present discussions with 1/3events regarding alternative proposals. Talking to The Verge, Incipio said the Skullcandy brand will retain.it is uncertain but how exactly Incipio plans to apply the emblem, with the statement just adding that the deal will create new licensing opportunities with future and current licensing partners, the capability totogether power scale and efficiencies, and offer retailers with a unmarried company for a extensive rangeof product classes.
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Tags: add-ons, Audio, Earphones, Headphones, Home Ent, Incipio, mobile add-ons, Mobiles, Skullcandy