Zagg mobile accessory has bought Mophie for no less than $100 million. Mophie, which is one of Zagg's competitors, is best known for the iPhone battery cases, while Zagg is popular with its line of Invisible Shield screen protectors.

The deal was announced on Tuesday, according to CNBC. Randy Hales, Zagg CEO said, "This strategic combination of two industry innovators with complementary product, brand and distribution platforms will enable us to deliver increased value for our customers and shareholders. We see numerous opportunities to drive revenue growth and increase profitability by leveraging the strengths of both organizations to strengthen product development, improve brand presence and expand distribution."

CEO Daniel Huang and operating chief Shawn Dougherty from Mophie will be in the same role as before. The agreement is expected to be closed later in the first quarter and with the approval from both boards.

Mophie began its business by producing iPod accessories. At a Macworld Expo, it displayed a whiteboard around its booth. Visitors were welcome to give ideas of which would be made into a product, and it went to an iPod Shuffle case that served as a beer opener as well. In 2014, Samsonite, the luggage maker, spent $85 million to purchase Speck Products.

Tech Crunch stated that the deal includes $100 million agreement to be paid at the front and potential extra cash, which depends on Mophie's adjusted incomes within a year.

The $100 million deal is said to be quite cheap for a settled and salable brand like Mophie. Mophie concentrates totally on USB battery packs and battery cases for smartphones. This has rapidly turned into "a ridiculously crowded space". Competitors come from everywhere, from un-named white label to newcomers like Aukey and Anker, to Apple.

The company release, as mentioned in 9 To 5 Google, said that the "combination forms market share leader in four top accessory categories; battery cases, external batteries, screen protection, and tablet keyboards." It is also "to create mobile accessories innovator with combined 2015 net sales of approximately $470 million."

Daniel Huang stated, "ZAGG and Mophie represent two companies with strong brands and shared values. The rationale for the merger is powerful and the combination enhances each company's growth strategy while offering a truly compelling value proposition. Together, we intend to build on our market leadership to deliver great products, advance the brand strength, and increase our global presence in mobile accessories."

Some of the Key Strategic and Financial Benefits ZAGG and Mophie will expect are the increasing growth as a result of the improved capabilities, best in class product development, stronger brand, larger distribution, and higher financial report.