Business
Corsair Closed Acquisition of the Fanatec Product Line from Endor AG; Moves into Sim Racing’s Pole Position
MILPITAS, Calif.--(BUSINESS WIRE)-- CORSAIR® (Nasdaq: CRSR) announced today it has closed its acquisition of the Fanatec Sim Racing brand and all associated
About this update from Corsair Gaming, Inc.
[{"type":"text","content":" MILPITAS, Calif.--(BUSINESS WIRE)--\nCORSAIR® (Nasdaq: CRSR) announced today it has closed its acquisition of the Fanatec Sim Racing brand and all associated personnel, in an asset purchase from Endor AG, creating a leading end-to-end premium Sim Racing product line. The Fanatec Sim Racing product line is known for setting the gold standard for excellence in force feedback steering wheels and wheelbases, pedals, shifters and other accessories for PlayStation, Xbox, and PC-based racing simulators, which fully complements Corsair’s Sim Racing chassis, Gaming PCs, Gaming and Streaming Peripherals, and Monitors. Financial terms of the acquisition were not disclosed.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240923956832/en/CORSAIR® (Nasdaq: CRSR) announced today it has closed its acquisition of the Fanatec Sim Racing brand and all associated personnel, in an asset purchase from Endor AG, creating a leading end-to-end premium Sim Racing product line. The Fanatec Sim Racing product line is known for setting the gold standard for excellence in force feedback steering wheels and wheelbases, pedals, shifters and other accessories for PlayStation, Xbox, and PC-based racing simulators, which fully complements Corsair’s Sim Racing chassis, Gaming PCs, Gaming and Streaming Peripherals, and Monitors. Financial terms of the acquisition were not disclosed. (Graphic: Business Wire)\nLocated in Landshut, Germany, Endor reported that Fanatec product sales were approximately $110 million for 2023 (unaudited). Industry reports estimate the Sim Racing components market at approximately $1 billion, with an expected 20 percent annual growth rate. All current and future Fanatec customers now benefit from CORSAIR’s world-class support, including warranty and software updates.\n\nAndy Paul, CEO of Corsair, commented, “With our acquisition of the Fanatec brand, Corsair moves firmly into Sim Racing’s pole position. Our team is already working to implement an accelerated strategy to capture growth opportunities where we can immediately leverage our global sales network, similar to our successful track record acquiring and growing other top gaming and streaming brands. In addition to driving revenue growth, investors can expect us to use our global supply chain with the goal of increasing ma...