In an event today at the CTIA conference, case maker OtterBox announced it was acquiring waterproof case maker LifeProof.
OtterBox will keep LifeProof's San Diego location and employees will remain in their current locations. OtterBox global headquarters remain in Fort Collins, Colorado. The companies are not disclosing any terms for the transaction.
OtterBox's newest Apple-related case is the ultra durable Armor Series iPhone case.
LifeProof's main case is its waterproof iPhone case, but it also makes the Nüüd waterproof iPad case.
OtterBox will keep LifeProof's San Diego location and employees will remain in their current locations. OtterBox global headquarters remain in Fort Collins, Colorado. The companies are not disclosing any terms for the transaction.
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.OtterBox, with more than 600 employees, makes cases for a variety of different phone and tablet models, including the iPhone and iPad. The company claims it current holds 23% market share in the case market and is approaching $1 billion in yearly sales.
“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.”
OtterBox's newest Apple-related case is the ultra durable Armor Series iPhone case.
LifeProof's main case is its waterproof iPhone case, but it also makes the Nüüd waterproof iPad case.
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