The ugly shoe that won't die.

Crocs announces licensing deal, acquisition

'Niwot-based shoemaker Crocs Inc. said Thursday that it has struck a licensing deal Nickelodeon that will allow it to feature popular childrens' characters Dora the Explorer and SpongeBob SquarePants on its sandals.

The limited edition shoes will be available this summer.

The licensing deal follows similar agreements the company has reached with the Walt Disney Co., National Football League, National Hockey League and more than 75 colleges and universities.

Crocs also said Thursday that it will purchase sandalmaker Ocean Minded LLC for $1.75 Million in cash, plus a potential earn-out of up to $3.75 million based on Ocean Minded hitting certain earnings targets over a three year period.

The company has previously snapped up Fury Inc., a Canadian maker of hockey and lacrosse gear; Exo Italia, an Italian shoe designer; and Jibbitz Inc., a Boulder maker of accessories that fit into the holes in some models of Crocs shoes.'