{"id":398281,"date":"2020-12-11T09:33:30","date_gmt":"2020-12-11T14:33:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398281"},"modified":"2020-12-11T09:33:30","modified_gmt":"2020-12-11T14:33:30","slug":"evercel-announces-agreement-to-acquire-zagg","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/evercel-announces-agreement-to-acquire-zagg\/","title":{"rendered":"Evercel Announces Agreement to Acquire ZAGG"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">NEW YORK, Dec.  11, 2020  (GLOBE NEWSWIRE) &#8212; Evercel, Inc. (\u201cEvercel\u201d) (OTC: EVRC) has entered into a definitive agreement pursuant to which Evercel and its co-investors will acquire ZAGG Inc (Nasdaq: ZAGG) (\u201cZAGG,\u201d or the \u201cCompany\u201d), a leading global mobile lifestyle company.<\/p>\n<p>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<sup>\u00ae<\/sup>, mophie<sup>\u00ae<\/sup>, InvisibleShield<sup>\u00ae<\/sup>, IFROGZ<sup>\u00ae<\/sup>, Gear4<sup>\u00ae<\/sup>, and HALO<sup>\u00ae <\/sup>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&amp;T, T-Mobile, Walmart, Target, and Amazon.com. For more information, please visit the Company&#8217;s website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6XWBR0HQ9EJ61yVH3MfioVJ5kSQZbsDr7vA9nKafeguQCVxEPnI3S9L9ZEfxiswJ5gVl5ra5t8-U9GO82yhkXA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.ZAGG.com<\/a>.<\/p>\n<p>\u201cWe admire the ZAGG business and its portfolio of leading mobile lifestyle brands,\u201d said Daniel Allen, CEO of Evercel. \u201cWe are excited to begin a long and successful partnership with the ZAGG team.\u201d<\/p>\n<p>Chris Ahern, ZAGG Chief Executive Officer, commented, \u201cWe look forward to continuing to serve our customers through exceptional products and continued industry-leading innovation. We are excited about the support provided by Evercel\u2019s ownership, expertise and resources.\u201d<\/p>\n<p>Evercel will be the majority owner of the holding company formed to acquire ZAGG. Terms of the transaction can be found in a Form 8-K to be filed by the Company with the SEC on or about this date, which may be obtained at the SEC\u2019s website (www.sec.gov). The transaction is expected to close in the first quarter of 2021. Under the terms of the agreement, the Company will file a proxy statement, which shall include the recommendation of the Company\u2019s Board of Directors that the Company\u2019s stockholders approve the agreement and authorize the transactions contemplated thereby. Closing of the transaction is conditioned upon stockholder approval, clearance under the Hart-Scott-Rodino Antitrust Improvements and other customary closing requirements.<\/p>\n<p>Grant Thornton LLP, Lincoln International LLC and Oppenheimer &amp; Co. Inc. are acting as financial advisors to Evercel and Morgan, Lewis &amp; Bockius LLP is acting as its legal counsel. BofA Securities is acting as financial advisor to ZAGG and Latham &amp; Watkins LLP is acting as its legal counsel.<\/p>\n<p>\n        <strong>About Evercel<\/strong>\n      <\/p>\n<p>Evercel is a publicly traded holding company that acquires and manages high potential businesses which have been limited by their capital structure.<\/p>\n<p>Evercel is currently exempted from the SEC\u2019s 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.\u00a0\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1XtkS5OxNCYSLTQgsW3f7brN9KhP63PEGOsqflTfFDlkec5tJfm0vLBikFA4fx2QS6uflO4sGbg6vSQZeUvLlw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.evercel.com<\/a>\u00a0\u00a0<\/p>\n<p>\n        <strong>CONTACT:<\/strong>\n      <\/p>\n<p>info@evercel.com<\/p>\n<p>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEwMDgxOSMzODY3Mzc5IzIwMTk1Njc=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/3aebaefb-c67c-488d-818a-f27708f72987\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Dec. 11, 2020 (GLOBE NEWSWIRE) &#8212; Evercel, Inc. (\u201cEvercel\u201d) (OTC: EVRC) has entered into a definitive agreement pursuant to which Evercel and its co-investors will acquire ZAGG Inc (Nasdaq: ZAGG) (\u201cZAGG,\u201d or the \u201cCompany\u201d), a leading global mobile lifestyle company. 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\u00ae, mophie\u00ae, InvisibleShield\u00ae, IFROGZ\u00ae, Gear4\u00ae, and HALO\u00ae 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&amp;T, T-Mobile, Walmart, Target, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/evercel-announces-agreement-to-acquire-zagg\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Evercel Announces Agreement to Acquire ZAGG&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-398281","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Evercel Announces Agreement to Acquire ZAGG - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/evercel-announces-agreement-to-acquire-zagg\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Evercel Announces Agreement to Acquire ZAGG - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Dec. 11, 2020 (GLOBE NEWSWIRE) &#8212; Evercel, Inc. (\u201cEvercel\u201d) (OTC: EVRC) has entered into a definitive agreement pursuant to which Evercel and its co-investors will acquire ZAGG Inc (Nasdaq: ZAGG) (\u201cZAGG,\u201d or the \u201cCompany\u201d), a leading global mobile lifestyle company. 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\u00ae, mophie\u00ae, InvisibleShield\u00ae, IFROGZ\u00ae, Gear4\u00ae, and HALO\u00ae 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&amp;T, T-Mobile, Walmart, Target, &hellip; Continue reading &quot;Evercel Announces Agreement to Acquire ZAGG&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/evercel-announces-agreement-to-acquire-zagg\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-11T14:33:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEwMDgxOSMzODY3Mzc5IzIwMTk1Njc=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/evercel-announces-agreement-to-acquire-zagg\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/evercel-announces-agreement-to-acquire-zagg\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Evercel Announces Agreement to Acquire ZAGG\",\"datePublished\":\"2020-12-11T14:33:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/evercel-announces-agreement-to-acquire-zagg\\\/\"},\"wordCount\":450,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/evercel-announces-agreement-to-acquire-zagg\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODEwMDgxOSMzODY3Mzc5IzIwMTk1Njc=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/evercel-announces-agreement-to-acquire-zagg\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/evercel-announces-agreement-to-acquire-zagg\\\/\",\"name\":\"Evercel Announces Agreement to Acquire ZAGG - 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