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CORRECTING and REPLACING CORSAIR Pursuing an Acquisition of Fanatec, the Leading Brand for Sim Racing Hardware
MILPITAS, Calif.--(BUSINESS WIRE)-- Please replace the release dated May 8, 2024 with the following corrected version due to multiple revisions. The updated
About this update from Corsair Gaming, Inc.
[{"type":"text","content":" MILPITAS, Calif.--(BUSINESS WIRE)--\nPlease replace the release dated May 8, 2024 with the following corrected version due to multiple revisions.\n\n\nThe updated release reads:\n\n\nCORSAIR PURSUING AN ACQUISITION OF FANATEC, THE LEADING BRAND FOR SIM RACING HARDWARE\n\n\nCORSAIR® (Nasdaq: CRSR) announced today that it has entered exclusive negotiations to acquire sim racing specialist Endor AG, owners of the world famous Fanatec brand. CORSAIR has reached an agreement with Endor to fund its short-term cash needs while both companies negotiate a restructuring of Endor’s approximately €70 million of debt, which will ultimately result in CORSAIR acquiring Endor if the transaction is approved under a German law governed insolvency process.\n\n\n“Fanatec is an incredible brand with a strong community, and we believe CORSAIR is the ideal home for Fanatec’s loyal customers, employees and business partners,” said Corsair CEO, Andy Paul. “This transaction would solve the company’s significant debt load and position the company for growth and continued product portfolio expansion.”\n\n\nThis sentiment is echoed by Endor. “We are very pleased to have found a strategic investor in Corsair who knows our market well and wants to invest for the long term,” said Andres Ruff, CEO and Chief Restructuring Officer of Endor.\n\n\nEndor is a leading manufacturer of dedicated sim racing hardware, including force feedback steering wheels, pedals, and complete cockpits for PlayStation, Xbox, and PC-based racing simulators. This acquisition bolsters the investment CORSAIR has made in the simulation space, and means it is uniquely positioned going forward to provide leading sim racing solutions.\n\n\nAbout CORSAIR\n\n\nCORSAIR (Nasdaq: CRSR) is a leading global developer and manufacturer of high-performance gear and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best.\n\n\nCopyright © 2024 Corsair Gaming, Inc. All rights reserved. CORSAIR and the sails logo are registered trademarks of CORSAIR in the United States and/or other countries. All other company and/or product names ma...