IGo® Announces Acquisition Of AERIAL7
iGo, Inc. (Nasdaq: IGOI), a leading provider of eco-friendly power management solutions and mobile electronic device accessories, today announced the acquisition of AERIAL7, a designer and marketer of innovative headphones for mobile electronic devices and professional audio equipment. The acquisition expands iGo’s line of accessories for popular devices like laptops, tablets, iPods ®, iPhones ® and other portable media devices.
AERIAL7 headphones combine superior acoustic technology with eye-catching design. AERIAL7 offers a wide range of styles and features that turn headphones from just a functional accessory to a bold fashion statement that allows consumers to express their unique and personal style. Additional information about AERIAL7’s products can be found at www.aerial7.com.
AERIAL7’s headphones are sold through fashion, action sports and professional audio retailers. They can be found domestically at lifestyle and music retailers, such as Urban Outfitters and select Tilly’s and F.Y.E. locations. AERIAL7 also uses an international distribution network to sell its products in more than 50 countries, which accounts for approximately 60% of the company’s sales. AERIAL7 is currently generating annualized revenue of approximately $2.0 million.
“The acquisition of AERIAL7 further expands our presence in the mobile device accessories market, increases our international footprint, and provides another catalyst for driving profitable growth in the future,” said Michael D. Heil, President and Chief Executive Officer of iGo. “With their exceptional designs and effective grassroots marketing campaigns, AERIAL7 has created a strong niche in the young adult and professional audio markets. Further, the three founders that will be joining our team bring outstanding experience in design and marketing, not just in audio, but in all categories of mobile electronics accessories from their experience with companies such as Amp’d Mobile, Boost Mobile, Plantronics, Altec-Lansing and Rivet International. With the additional capital that we can provide to this business, the product design and marketing expertise that we are adding, and the synergies that can be created through our established distribution network, we believe we can develop additional products that can be taken into the mass market retail channel and accelerate our growth in the United States and abroad.”
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