Evercel Announces Completion of Acquisition of ZAGG

Rhea-AI Summary

Evercel, Inc. (OTC: EVRC) has completed its acquisition of ZAGG Inc, a leading mobile accessories firm. This deal, first announced on December 11, 2020, received stockholder approval on February 18, 2021. Evercel will become the majority owner of the newly formed holding company for ZAGG. The transaction details are available in the SEC proxy statement. Evercel will discuss this acquisition and its FY21 financial results during a conference call on March 1, 2021, at 4:30 EST.

Positive

• Acquisition of ZAGG Inc. enhances market position.
• Evercel becomes majority owner, indicating control over operations.
• Strategic acquisition could lead to new revenue opportunities.

Negative

• None.

NEW YORK, Feb. 22, 2021 (GLOBE NEWSWIRE) -- A buyer group led by Evercel, Inc. (“Evercel”) (OTC: EVRC) today announced the completion of its acquisition of ZAGG Inc. The transaction was previously announced on December 11, 2020 and received approval from ZAGG’s stockholders on February 18, 2021. Evercel will be the majority owner of the holding company formed to acquire ZAGG. Further terms of the transaction can be found in the proxy statement filed by the Company with the SEC, which may be obtained at the SEC’s website (www.sec.gov).

Evercel will host a conference call for shareholders on Monday, March 1 at 4:30 EST to discuss the transaction and Evercel’s FY21 financial results, which can be found at www.evercel.com. Dial in information will be available on Evercel’s website.

About ZAGG Inc. 

ZAGG Inc (NASDAQ: ZAGG) is a global leader in accessories and technologies that empower mobile lifestyles. The Company has an award-winning product portfolio that includes screen protection, mobile keyboards, power management solutions, social tech, and personal audio sold under the ZAGG ® , mophie ® , InvisibleShield ® , IFROGZ ® , Gear4 ® , and HALO ® brands. ZAGG has operations in the United States, Ireland, and China. ZAGG products are available worldwide, and can be found at leading retailers including Best Buy, Verizon, AT&T, Sprint, T-Mobile, Walmart, Target, and Amazon.com. For more information, please visit the Company's website at www.ZAGG.com and follow us on Facebook, Twitter, and Instagram. 

About Evercel, Inc. 

Evercel, Inc. is a holding company that brings an entrepreneurial approach to acquiring and managing business through a hands-on, data-driven approach to partnering with strong management teams for long term results. 

Evercel is currently exempted from the SEC’s periodic reporting requirements, and voluntarily reports financial and other information from time to time. Evercel may change its reporting practices at any time, in its discretion and without notice. www.evercel.com

CONTACT:

info@evercel.com

FAQ

What is the significance of Evercel's acquisition of ZAGG Inc.?

The acquisition strengthens Evercel's position in the mobile accessories market by gaining control of a leading brand.

When was the acquisition of ZAGG Inc. completed?

The acquisition was completed on February 22, 2021, following stockholder approval on February 18, 2021.

What will Evercel discuss during the conference call on March 1, 2021?

Evercel will discuss the ZAGG acquisition and its FY21 financial results.

What brands does ZAGG Inc. operate under?

ZAGG operates under brands including ZAGG®, mophie®, InvisibleShield®, IFROGZ®, Gear4®, and HALO®.

What are the expected benefits of Evercel acquiring ZAGG?

The acquisition is expected to create synergies and expand market reach, potentially boosting revenue.