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Corsair Set to Acquire the Fanatec Product Line from Endor AG
Acquisition of Premium Fanatec Brand Accelerates Corsair’s Investment in Sim Racing MILPITAS, Calif.--(BUSINESS WIRE)-- CORSAIR® (Nasdaq: CRSR) announced
About this update from Corsair Gaming, Inc.
[{"type":"text","content":"\nAcquisition of Premium Fanatec Brand Accelerates Corsair’s Investment in Sim Racing\n\n MILPITAS, Calif.--(BUSINESS WIRE)--\nCORSAIR® (Nasdaq: CRSR) announced today the signing of a definitive agreement to acquire the Fanatec Sim Racing brand and all associated personnel, in an asset purchase from Endor AG. The acquisition is expected to close within the week.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240916582811/en/Located in Landshut, Germany, Fanatec Sim Racing products include force feedback steering wheels and wheelbases, pedals, shifters and other accessories for PlayStation, Xbox, and PC-based racing simulators. Endor reported that Fanatec product sales were approximately $110 million for 2023 (unaudited). (Photo: Business Wire)\nLocated in Landshut, Germany, Fanatec Sim Racing products include force feedback steering wheels and wheelbases, pedals, shifters and other accessories for PlayStation, Xbox, and PC-based racing simulators. Endor reported that Fanatec product sales were approximately $110 million for 2023 (unaudited).\n\n“We have been a fan of the Fanatec brand for years, and I am thrilled that we were finally chosen to be the next home for Fanatec products. We intend to use our extensive supply chain and logistics network to reduce operating costs, enhance users’ customer service experience, increase sales opportunities, and help the business return to profitability,” said Andy Paul, CEO of Corsair. “We intend to maintain the core business in Landshut while expanding its position as a world-class product development center for Sim Racing products. With a strong two-decade legacy, Fanatec is recognized as a pioneer and a mainstay for racing enthusiasts across the globe, and we look forward to building on that heritage as we leverage Corsair’s long track record of product innovation and customer experience leadership.”\n\nFanatec has seen significant growth over the last five years in part due to the growth in on-track racing interest, as the swelling global popularity of motorsports has translated into an increased popularity for Sim Racing. Industry reports estimate the Sim Racing components market at approximately $1 billion, with an expected 20 percent annual growth rate.\n\nFollowing on Corsair’s recent announcement of entering into this e...