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Skullcandy, the headphone and audio-tech developer was looking for a buyer to help take its company private again. The Company has recently agreed to be purchased by Incipio, the company which makes everything from phone cases to smart plugs. The deal is approved by both the company's Board of Directors and is expected to get closed in Quarter 3, this year for $5.75 per share, or approximately $177 million.
Skullcandy owes its roots to founder Rick Alden, who while “shredding some fresh powder” on a slope in Park City, struggled to get his music ear bud out of his ear to answer a cell phone call. He decided then, on the slopes, to create a set of headphones that deliver quality sound with the ability to switch seamlessly from music to calls.
Skullcandy now focuses on a high fidelity, high style, and highly affordability and is capable of performing under extreme situations. According to Skullcandy, the headsets are built to take abuse, not to be displayed on a shelf. The company’s goal is to “push human potential through the power of music.”
Hoby Darling,President and CEO of Skullcandy,said, "We are excited to be joining forces with Incipio Group as we believe it's in the best interests of Skullcandy and our shareholders. The combination of our two companies allows us to better serve our consumers and retailers with focused, best-in-class products in multiple categories. We share a common culture, vision and commitment to driving innovation and this merger will allow our two teams to amplify their efforts going forward. Also, importantly, we remain deeply committed to our teams, retail partners, ambassadors and community. Those things are all part of our DNA as a company born on the mountains in Park City for Skullcandy and in the technology and gaming hub of San Francisco for Astro."
According to Andy Fathollahi, CEO and Founder of Incipio,” Skullcandy and Astro amplify our dynamic mix of products and brands, while bolstering the technical and operational capabilities that serve as the foundation of our platform”.
This purchase represents Incipio’s another strategy in horizontal integration, so that the company may become a more diverse one -stop shop. Well how exactly this merger will affect the technology can only be said after few years down the road.
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