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Case Manufactures OtterBox & LifeProof Reach A Deal

Case Manufactures OtterBox & LifeProof Reach A Deal

At todays CTIA conference, popular case manufacture OtterBox announced it has closed the deal to acquire Lifeproof who manufacture waterproof, shock proof, dust proof and snow proof cases.

OtterBox currently hold 23% of the case market and is currently just below $1 billion in yearly sales. The company manufactures cases for a the majority of mobile handsets and tablets on the market.

OtterBox employs approximately 650 people worldwide. LifeProof employed approximately 250 people, who are now members of the OtterBox family and will remain in their San Diego location for the foreseeable future.

During the question and answer session at todays CTIA both companies revealed that the acquisition had taken around 120 days to complete.

Full Press Release Below:

Much like OtterBox, LifeProof is a rapidly growing, multi-million dollar business with a strong global brand, comprehensive product offering, impressive intellectual property and thriving company culture. Over the next 30 days, OtterBox will begin incorporating the LifeProof brand into the OtterBox family. More information about product availability and alignment will be determined at the completion of the integration.

“The joining of OtterBox and LifeProof is a way to combine two great brands and provide customers with even more great products, services and choices for smartphone accessories,” OtterBox CEO Brian Thomas said. “Both companies are successful because we foster an environment where everyone takes pride in being part of a culture that knows how to identify opportunities and grow them quickly. Our goal in this acquisition is to create more value for our customers than we ever could have generated while operating individually.”

A key driver for the acquisition is about creating customers who are passionate about the OtterBox brand. “Our strategy is to utilize our combined brand momentum, and world-class talent to create a great customer experience that generates OtterBox brand ambassadors for life,” Thomas said. “Our customers and our employees are the ones who have the passion for the brand that allows us to succeed. This passionate spirit motivates us to build better teams, better companies and ultimately, better communities. At the end of the day, that is our goal.”

OtterBox employs approximately 650 people worldwide. LifeProof employed approximately 250 people, who are now members of the OtterBox family and will remain in their San Diego location for the foreseeable future.

OtterBox has been a family-owned business since 1998. The financial details and terms of the agreement are confidential.


SourceLifeProof

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