Otterbox will start integrting LifeProof products into its own line and they will retain all the employees for now. The big question is "Could this be the start of consolidation in the accessory manufacturer space?"
FORT COLLINS, Colo.--(BUSINESS WIRE)--OtterBox®, the global leader in protection for handheld technology, today announced the acquisition of TreeFrog Developments Inc., DBA LifeProof®. Founded in 2009 and headquartered in San Diego, LifeProof is an award-winning maker of protective cases and complementary accessories for smartphones and tablets.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.About LifeProof:Based in San Diego, LifeProof designs, manufactures and markets cases for smartphones and tablets that deliver protection, style and functionality. LifeProof is built on the idea of giving everyone the complete freedom and confidence to use their mobile devices in any environment. Designed to defend against water, dirt, snow, shock and the hazards of daily life, LifeProof lets consumers use their mobile device every day, everywhere, and for everything, without worry.For more information, visit lifeproof.com.About OtterBox:Founded in 1998, OtterBox creates premium technology accessories for smartphones, tablets and mobile devices. The top mobile device manufacturers, big box retailers and wireless services providers in the world value their partnership with OtterBox to increase device sales and to strengthen their own brand equity. OtterBox works endlessly to create a strong connection with consumers through first-class customer service, commitment to premium product quality and constant voice-of-the-consumer efforts.OtterBox has been a five-time honoree on the Inc. 500 list of fastest growing private companies in the US, recognized in the Top 10 by the Forbes Magazine America's Most Promising Companies list and is a repeat honoree in the Great Place to Work annual survey published by FORTUNE Magazine. The multi-million dollar company has global headquarters in Fort Collins, Colo. and offices in Boston, San Diego, Cork, Ireland and Hong Kong.OtterBox is the No. 1-selling case for smartphones* and offers an extensive lineup of screen protectors, cases and other accessories that enhance various consumer lifestyles.