Acquisition boost for firm’s Irish base

THE Irish base for US mobile technology accessory firm ZAGG has received a significant boost, following the Nasdaq-listed company’s acquisition of US firm iFrogz for $104 million.

Earlier this year, 300 jobs were announced for the Shannon Free Zone in a joint venture between ZAGG and Shannon firm Cregg Logistics. Initially, 170 jobs will be created and the managing director of ZAGG International Distribution, Brian Packer, said that he expects a total of 300 jobs to come on stream over the next four years.

The iFrogz acquisition is expected to broaden ZAGG’s product offering. Utah-based iFrogz is a leading designer and producer of protective cases and audio products, primarily for smartphones and tablet devices.

Highlighting the significance of the deal for ZAGG, Mr Packer said: “The acquisition of iFrogz solidifies our position in Ireland and further enhances the commitment ZAGG International has made to the region regarding employment opportunities.

“Our office in Shannon will be responsible for the European logistics of this new entity, as iFrogz staff based in Europe will now be reporting to us.”

Shannon Development’s chief executive Dr Vincent Cunnane said ZAGG’s acquisition will further strengthen the firm’s position in the marketplace and will have beneficial effects for their Irish operation at Shannon Free Zone.

Ireland’s 12.5% corporation tax rate was the main attraction for the US firm setting up a base here back in April and Mr Packer has urged the Government to protect the rate.

“We were originally going to do Europe and we decided to expand and make this the centre not just for Europe, but the Middle East and Africa, which expanded dramatically how much we are going to do from this base. I wouldn’t mess with it [the corporate tax rate], because it is very attractive.

“There are other countries who are being very aggressive. You have to be aggressive or you are going to lose out on opportunities and it is a very aggressive move that the Irish Government is making and it is in their best interests to maintain that,” Mr Packer added.