ZAGG Inc
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| File:ZAGG Logo vector.svg | |
| Private | |
| ISIN | 🆔 |
| Industry | Consumer electronics accessories |
| Founded 📆 | Salt Lake City, Utah, United States |
| Founder 👔 | |
| Headquarters 🏙️ | , |
Area served 🗺️ | |
Key people | Chris Ahern, CEO and Director[1] |
| Products 📟 | Screen protectors, Battery chargers, Mobile phone accessories, Computer keyboards |
| Revenue🤑 | $521.922 million (2019)[2] |
| Members | |
Number of employees | 450[2] |
| Subsidiaries | |
| 🌐 Website | zagg |
| 📇 Address | |
| 📞 telephone | |
Zagg (stylized in all-caps) is a company based in Midvale, Utah. It was originally called InvisibleShield.[8] Under its subsidiaries, the company distributes phone and audio accessories.[9]
History[edit]
In March 2005, InvisibleShield was created by Phillip Chipping.[10][11][12]
In January 2006, Chipping brought in Robert G. Pedersen II as the CEO, while Chipping retained the title of president and founder. Later that year, after buying out Chipping, Pedersen became the largest shareholder.[13]
The company changed its name to ShieldZone Corporation in March 2006 and then to ZAGG Inc in July 2007. The name change coincided with a reverse merger that made Zagg a publicly traded company on the OTC Bulletin Board exchange.[14] In November 10, 2009, it was listed on the NASDAQ market.[15]
In August 2012, Pedersen stepped down following a margin call, and Randall Hales, previously President and COO, became interim CEO. In December 2012, Hales was named CEO by the Board of Directors.[16]
In March 2018, Randall Hales resigned and the Board of Directors appointed Chris Ahern to be the CEO.[16] Ahern was serving as the head of the Mophie brand and international business.[17]
In 2020, Zagg was received a loan of US$9.4 million as part of the Paycheck Protection Program (PPP). The loans to publicly traded companies such as Zagg caused criticism of the program, and allegations that funds were misallocated.[18] In April 23, 2020, the US Treasury announced that the eligibility criteria for PPP had been updated to be less inclusive of publicly traded companies. Zagg released a statement that it would not be returning its loans.[19]
In February 2021, Zagg was delisted from NASDAQ as it was acquired by a buyer group led by the holding company Evercel Inc.[20]
In 2022, Zagg began offering Zagg Protect, a phone protection plan.[21][22]
Acquisitions and subsidiaries[edit]
In 2011, Zagg acquired iFrogz, a Logan, Utah manufacturer of audio accessories and protective cases, for $105 million.[23] In 2016, Zagg acquired Mophie, a manufacturer of wireless chargers, battery packs, and smartphone charging cases, for $100 million.[24] In August 2018, Zagg acquired Braven, an Orem, Utah-based retailer of headphones, earphones and bluetooth speakers, for $4.5 million.[25] In November 2018, Zagg acquired smartphone case manufacturer Gear4 for $40 million.[26] In January 2019, Zagg acquired HALO, a manufacturer of wireless charging accessories, for $43 million.[27]
References[edit]
- ↑ "Symbol Lookup from Yahoo Finance".
- ↑ 2.0 2.1 2019 SEC Form 10-K. ZAGG Inc. March 16, 2020.
- ↑ Oberbeck, Steven (2011-06-04). "Investors like Zagg's acquisition of Utah's iFrogz". The Salt Lake Tribune. Retrieved 2012-04-04.
- ↑ Lee, Nicole (2016-02-02). "Zagg buys battery phone case maker Mophie for $100 million". Engadget. Retrieved 2020-02-02.
- ↑ "Company Overview of ZAGG Inc". Bloomberg. July 15, 2023.
- ↑ Roumeliotis, Greg (2019-08-06). "Smartphone protective case maker Zagg hires bank to explore options". reuters.com. Reuters. Retrieved 2020-02-02.
- ↑ Raymond, Art (2019-01-03). "Utah's ZAGG acquires HALO in $43 million deal". Deseret.com. Deseret. Retrieved 2020-02-02.
- ↑ Zubasti (2011-12-21). "Zagg Stock Falls On Unusually High Volume (ZAGG)". TheStreet.com. Retrieved 2012-01-05.
- ↑ Association, WestPeak Research (2018-08-29). "ZAGG: A Steady Change". Seeking Alpha. Retrieved 2020-05-14.
- ↑ Wallace, Bruce (2005-12-20). "Firm seeks a scratch-free world". Deseret News. Retrieved 2012-04-04.
- ↑ Clark, Emily (2011-12-29). "Made in America: ZAGG". ABC News 4. Archived from the original on 2013-09-06. Retrieved 2012-04-04.
- ↑ "InvisibleShield Launches a Non-Newtonian Fluid Screen Protector". Mac Observer. 5 March 2021. Retrieved 2021-04-01.
- ↑ "ZAGG CEO Robert G. Pedersen II Named Ernst & Young's 2010 Entrepreneur Of The Year". Utah Pulse. 6 July 2010. Archived from the original on 18 October 2010. Retrieved 20 September 2022.
- ↑ "ZAGG Inc Common Stock (Delaware) (ZAGG)". NASDAQ.com. Retrieved 2019-07-09.
- ↑ GmbH, finanzen net. "ZAGG Announces Executive Leadership TransitionChris Ahern to Succeed Randy Hales as Chief Executive Officer | Markets Insider". markets.businessinsider.com. Retrieved 2019-07-09.
- ↑ 16.0 16.1 "CEO of Utah's ZAGG quits unexpectedly". The Salt Lake Tribune. Retrieved 2019-07-09.
- ↑ "ZAGG, Inc. (ZAGG) Names Chris Ahern President of mophie". StreetInsider.com. Retrieved 2019-07-09.
- ↑ Zarroli, Jim (21 April 2020). "Some Not-So-Small Companies Are Getting Small-Business Loans Under PPP". NPR.org. Retrieved 2020-04-21.
- ↑ "Some U.S. companies will keep small business loans, defying backlash". Reuters. 25 April 2020. Retrieved 29 April 2020.
- ↑ "Buyer Group Led by Evercel Completes Acquisition of ZAGG" (Press release). ZAGG Inc. GlobeNewswire. February 22, 2021.
- ↑ "Zagg Protect is the case maker's version of phone insurance". The Verge. 2 February 2022. Retrieved 23 June 2022.
- ↑ Davis, Ziff. "Zagg Protect Is a $99 Insurance Plan for Your Phone". PC Mag.
- ↑ Opsahl, Kevin (June 23, 2011). "iFrogz acquired by Zagg for $105 million". The Herald Journal. Retrieved 2020-05-14.
- ↑ "Zagg Acquires Mophie For $100M+". TechCrunch. Retrieved 2020-05-14.
- ↑ Raymond, Art (2018-08-03). "Utah's Zagg expands product line with Braven acquisition". Deseret News. Retrieved 2020-05-14.
- ↑ Wilson, Stuart (December 3, 2018). "ZAGG grabs Gear4 for US$40m". Channel Emea. Archived from the original on May 7, 2021. Retrieved 2020-05-14.
- ↑ Raymond, Art (2019-01-03). "Utah's ZAGG acquires HALO in $43 million deal". Deseret News. Retrieved 2020-05-14.
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