Logitech acquired Saitek for more awesome gaming hardware
Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it has acquired Mad Catz Interactive Inc.’s (NYSE MKT: MCZ) Saitek® brand and the Saitek line of flight and space simulation game controller assets for $13 million in cash.
Ujesh Desai, vice president and general manager of gaming at Logitech said: “We’re pleased with this tuck-in acquisition of the Saitek product portfolio. The Saitek product line complements our market-leading portfolio of Logitech G gaming products, including simulation products like our G29 and G920 Driving Force steering wheels, and expands our leadership position at a very exciting time for gaming.”
This asset acquisition is not considered material to Logitech’s quarterly or full-year financial results.
Logitech VP Gaming Ujesh Desai stated in his blog post
“It’s an exciting day for Logitech G. We just acquired the Saitek brand and the Saitek line of flight, farm and space simulation game controllers. They’re the go-to products for anyone into games like Elite Dangerous, Eve Valkyrie, Star Citizen, Microsoft Flight Simulator and Farm Simulator.
There’s a whole list of reasons why this makes us excited…
First, these products are just great. We know a thing or two at Logitech about what makes a gaming product stand out and these products deliver exceptional experiences. Don’t take our word for it – we’ve seen the Saitek fans on the forums.
Second, simulation games are cool and getting cooler. Whether you’re into driving, flying or exploring space, there are fresh new titles available and more to come. Some of these titles are even VR enabled and we believe that dedicated controllers will stimulate and enhance the total VR experience.
Last and most importantly, we’re excited to be a bigger part of the simulation community. We already make gaming wheels for the driving simulation market and this new line of products will provide an even more complete experience. We care about this space and want to do right by its fans. We have a vision that will take these products further, faster. Stay tuned for future updates, as we further integrate the Saitek products into our overall Logitech G portfolio.”
Logitech designs products that have an everyday place in people’s lives, connecting them to the digital experiences they care about. Over 30 years ago Logitech started connecting people through computers, and now it’s designing products that bring people together through music, gaming, video and computing. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @Logitech.
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