Turtle Beach enters into an agreement to acquire peripheral manufacturer ROCCAT to accelerate its planned expansion into a $2.9 billion market for PC gaming peripherals including headsets, mice and keyboard. Turtle Beach sees the opportunity to acquire the well-respected German peripheral maker, ROCCAT, with its leading position in the European market. Also, ROCCAT will benefit from Turtle Beach’s strong market share in North America while gaining distribution in the Asian market with ROCCAT’s presence. The acquisition of ROCCAT amounts to $14.8 million USD. Turtle Beach expects over $30 million USD of revenue from ROCCAT products in 2020.
Turtle Beach Official Statements
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 billion1 PC gaming keyboard and mice market. We believe our combined product portfolio is one of the strongest in the industry, covering gaming headsets for consoles and PC's, gaming keyboards and mice. Together we will have 48 core product models to pursue the total addressable market of over $4.7 billion in North America, Europe, and Asia.
We are thrilled to welcome René Korte and the ROCCAT team to the Turtle Beach family, as they are a highly talented group with deep experience in PC accessories and have a similar focus on providing high quality, innovative products to gamers worldwide. - Juergen Stark, CEO of Turtle Beach
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 billion1 PC gaming keyboard and mice market. We believe our combined product portfolio is one of the strongest in the industry, covering gaming headsets for consoles and PC's, gaming keyboards and mice. Together we will have 48 core product models to pursue the total addressable market of over $4.7 billion in North America, Europe, and Asia.
We are thrilled to welcome René Korte and the ROCCAT team to the Turtle Beach family, as they are a highly talented group with deep experience in PC accessories and have a similar focus on providing high quality, innovative products to gamers worldwide. - Juergen Stark, CEO of Turtle Beach
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. - René Korte, CEO of ROCCAT
Source: TurtleBeach.com
