Turtle Beach is buying Roccat for nearly $20 million
The gaming peripherals market has been a little turbulent these last few years. Prolific stuff proprietor Mad Catz sold of it’s Tritton brand a few months back, citing financial issues. That wasn’t even the original Mad Catz either, the OG incarnation collapsed in 2017 after the company had filed for Chapter 7 bankruptcy.
Corsair picked up a controlling stake in streaming accessories giant Elgato in 2018, pushing a bold new direction for the hardware maker.
And now the creator of affordable premium accessories like headphones is looking to diversify as well.
For a combined $19.2 million in cash, stock and earnout payments, Turtle Beach is snapping up German company Roccat, according to an official press release.
Turtle Beach is looking to use the keyboard, mice and headset lines offered by the German company under their own branding in order to expand into a massive market, tapping some much needed revenue. And with nearly $2 billion spent on PC accessories like headsets alone in 2018, there’s plenty of room for expansion.
The plan is pretty ambitious, but with the brand awareness Turtle Beach has, they likely have a pretty strong leg up on the competition. ROCCAT is a strong contender for one of the more popular gaming accessories brands in Europe, with a great bit of notoriety one of the top three best-selling gaming keyboards in Germany.
The CEO of Turtle Beach, Juergen Stark had the following to say on the deal:
This is a dynamic and strategically important deal for Turtle Beach. We are adding a complementary portfolio of PC gaming mice and keyboards, a skilled PC accessories team, and a highly synergistic distribution footprint. The acquisition is also a key step in achieving our goal of building a $100 million PC gaming accessories business in the coming years. ROCCAT accelerates our expansion into the roughly $1.6 billion PC gaming headset market, as well as directly enables us to address the roughly $1.3 billion PC gaming keyboard and mice market.
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