Incipio and Skullcandy announced on Friday the two corporations could be merging, with the California-primarily based customer generation firm first-rate recognized for its cellular add-ons agreeing to gather Utah-based headphone maker in a cash deal really worth more or less $177 million.
speaking at the merger agreement, Andy Fathollahi, CEO and founding father of Incipio, said in a joint declaration, “we have long widespread Skullcandy’s lifestyle of innovation and potential to create pioneering audio studies with first-rate and fashion. Skullcandy and Astro amplify our dynamic blend of products and brands, even as bolstering the technical and operational talents that serve as the inspiration of our platform. The team at Skullcandy and its worldwide presence will even permit us to boost up the global impact of our multi-brand offense.”
Hoby Darling, Skullcandy President and CEO, additionally commented, “we’re excited to be joining forces with Incipio institution as we consider it’s within the pleasant pursuits of Skullcandy and our shareholders. The mixture of our two companies permits us to higher serve our consumers and retailers with focused, satisfactory-in-class products in multiple categories. We share a not unusual lifestyle, vision and commitment to using innovation and this merger will allow our two groups to expand their efforts going forward. also, importantly, we continue to be deeply devoted to our groups, retail partners, ambassadors and network. the ones matters are all a part of our DNA as a organisation born at the mountains in Park city for Skullcandy and inside the era and gaming hub of San Francisco for Astro.”
The organizations added that the merger deal has been accepted by way of Skullcandy’s and Incipio’s forums of administrators, and that it is predicted to shut inside the 0.33 sector of 2016, subject to regulatory approvals.
The statement adds that Skullcandy from July 23 this yr has to stop current discussions with 1/3 parties concerning opportunity proposals. speaking to The Verge, Incipio said the Skullcandy logo will preserve. it’s unclear however how precisely Incipio plans to apply the brand, with the declaration just adding that the deal will create new licensing opportunities with future and cutting-edge licensing partners, the ability to together power scale and efficiencies, and provide shops with a unmarried firm for a wide range of product classes.