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January 4, 2019

Hartford’s HALO acquired for $43M

Photo | QVC HALO co-founders Garold Miller (left) and Dan Weinstein have found global success with their portable electronic charger marketed via the QVC televised shopping network.

A seller of mobile accessories from Utah says it’s acquired HALO, a Hartford-based developer of portable chargers, for $43 million in a cash and stock deal.

ZAGG Inc., of Salt Lake City, Utah, on Thursday afternoon announced its purchase of HALO, which in recent years moved to downtown Hartford after its co-founders Dan Weinstein and Garold Miller bought the Six Central Row office building in the center city.

ZAGG, which sells screen protectors for mobiles, headphones and other products, said HALO has a broad offering of wall chargers, portable power and power wallets, and has a “long-standing reputation as one of the top-selling electronics brands on QVC.”

The deal, ZAGG said, improves its product, distribution, brand and innovation, and HALO benefits from tapping into the Utah company’s global distribution network and expertise in brand building.

Under the deal, ZAGG will retain HALO’s leadership team and workforce in the U.S. and the Cayman Islands.

ZAGG CEO Chris Ahern said HALO is a profitable business that will help it reach its goal of $1 billion in annual revenue.

“It creates meaningful value for our shareholders through the addition of a powerful new and profitable revenue stream along with an entrée into the multibillion-dollar televised and online home shopping channel,” Ahern said.

Weinstein and Miller about a decade ago developed the idea for HALO as then neighbors in Glastonbury. They first debuted a HALO portable electronic charger on QVC in 2011. The partners declined in June to discuss HALO’s sales or profitability, but a 2013 CNNMoney story said the company earned $90 million in sales that year.

The co-founders at the time said they have sold about 22 million HALO products worldwide through QVC, their website and Amazon.

HALO, formerly based in Glastonbury, purchased the historic Six Central Row office building for $762,500 in 2017.

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