Business
Turtle Beach Announces the Acquisition of Neat Microphones
Neat's Groundbreaking Technology and Coming 2021 Product Pipeline Address the Growing Gaming, Streaming, Podcasting, Recording, and Audio Conferencing Markets
About this update from Turtle Beach Corporation
[{"type":"text","content":"Neat's Groundbreaking Technology and Coming 2021 Product Pipeline Address the Growing Gaming, Streaming, Podcasting, Recording, and Audio Conferencing Markets\n Acquisition Accelerates Turtle Beach Growth by Adding Neat's Accomplished Leadership Team & Innovative Product Line Focusing on Thriving $2.3 Billion Global Microphone Market\n\n\nSAN DIEGO, Jan. 13, 2021 /PRNewswire/ -- Leading gaming accessory company Turtle Beach Corporation (Nasdaq: HEAR) today announced the acquisition of Neat Microphones. Neat creates, manufactures, and sells high-quality digital USB and analog microphones that embrace cutting-edge technology and design. Neat's accomplished leadership team includes the former founders of Blue Microphones, inventors of the first high-performance USB microphone, and pioneers behind other award-winning microphones that have revolutionized how professionals and consumers capture their voice, music, and more. The acquisition also enables Turtle Beach's entry into the $2.3 billion global microphone market, which is experiencing rapid growth in the digital/USB accessories segment where Neat's product innovation is focused.\n\"We are entering the growing global streaming and microphone market with two significant advantages – the visionary leadership and engineering expertise behind some of the most renowned mics of the past 30-plus years, and Neat's impressive 2021 product lineup,\" said Juergen Stark, CEO, Turtle Beach Corporation. \"Neat is a great fit with Turtle Beach's 45-year legacy of audio innovation and expertise, and we're thrilled to welcome Skipper Wise, Martins Saulespurens, and the rest of the Neat Microphones team to the Turtle Beach family.\"\nStark continued, \"This is another significant milestone for Turtle Beach. Entering the global microphone market with Neat diversifies our product portfolio into new categories, while complimenting Turtle Beach and ROCCAT's offerings in console and PC accessories. The total addressable market for our diversified products and brands expands from $5.1B to $7.4B with this acquisition. Turtle Beach is already well-known for the excellent mic performance in our gaming headsets, and Neat's technology will further enhance our future industry-leading Turtle Beach and ROCCAT products. Additionally, the Neat brand expands our reach beyond gaming with a broader assortment of co...