Turtle Beach to acquire Roccat

0
1562

Leading gaming headset manufacturer Turtle Beach has announced its intent to acquire German PC peripherals company Roccat.

In a statement, Turtle Beach: “Announced the entry into an agreement to acquire Roccat – a top German PC peripherals company with a history of producing innovative, award-winning gaming mice, keyboards and other accessories. Turtle Beach is acquiring Roccat for $14.8 million in cash, net of a working capital adjustment, $1 million in cash or stock (company option), plus up to approximately $3.4 million in earnout payments.”

Juergen Stark, CEO of Turtle Beach, said: “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.”

René Korte, CEO of Roccat, added, “We’ve long admired how Turtle Beach’s pioneering headsets have elevated gaming and it is an honour to join forces and bring our great products to more gamers. I have no doubt that combining Roccat’s strength in the PC peripherals market with Turtle Beach’s 45 years of experience, impressive technology, console dominance, and strong brand will bring even more victories to gamers around the world.”

The acquisition of Roccat will mark a major step towards making Turtle Beach one of the games industry’s peripherals powerhouses – Turtle Beach said: “Roccat’s partial year contribution to Turtle Beach’s 2019 net revenue is expected to be approximately $20–$24 million,” — boasting a much more rounded and comprehensive product portfolio.