Turtle Beach Has Acquired PC Gaming Accessory Company Roccat
Turtle Beach has entered into an agreement to acquire German PC peripheral company Roccat for $14.8M
Turtle Beach is known all over the world for their headsets and most gamers have owned a pair at some stage in their video game playing history. Today, Turtle Beach has announced that they have purchased German peripheral giants Roccat for a cool $14.8 million – $1 million in an option for cash or stock, and up to $3.4 million in earnout payments as part of the agreement.
Due to Roccat’s popular presence in Europe, Turtle Beach will be able to reinforce its PC-focused marketing position there and also in Asia, where Roccat has already made progress in and in turn, Roccat will have the benefit of Turtle Beach’s current distribution channels in both North American and also European markets. The Company expects revenues from Roccat products to be over $30 million in 2020, and that the acquisition will be accretive to net income and EPS in 2020.
Juergen Stark who is CEO of Turtle Beach states “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.”
In a press release, Juergen calls this deal with Roccat “a key step in achieving our goal of building a $100 million PC gaming accessories business in the coming years.” Juergen continues to say that he hopes that the joining of Turtle Beach and Roccat’s product portfolio will be one of the strongest in the industry as they cover gaming headsets, keyboards, and mice for PC’s and consoles.
René Korte, CEO of Roccat conveys that the company has looked up to Turtle Beach due to their innovative headsets and how excited they are to join forces with them. René also expressed he is very confident that merging the two companies together “will bring even more victories to gamers around the world.” Turtle Beach have affirmed that they expect the deal to close in Q2.
If you would like to check out some of Roccat’s products, you can take a look at our review for the ROCCAT Kone AIMO gaming mouse and the ROCCAT Horde AIMO – Membranical RGB Gaming Keyboard