The latest accessory manufacturer merger is between Incipio and Skullcandy.
The terms of the deal have the acquisition valued at $5.75 per share, or approximately $177 million, which is approximately a 29 percent premium over Skullcandy’s closing share price on Friday. The deal has been approved by both Skullcandy’s and Incipio’s boards of directors and is expected to close in Q3 of 2016. There is, however, a “go-shop” period until July 23rd that gives Skullcandy the option to seek a larger purchase price from another company.
“Skullcandy and Astro amplify our dynamic mix of products and brands, while bolstering the technical and operational capabilities that serve as the foundation of our platform,” said Andy Fathollahi, CEO and founder of Incipio, in a statement sent to MobileSyrup. “The team at Skullcandy and its international presence will also allow us to accelerate the global impact of our multi-brand offense.”