Logitech has announced a £65.8 million all-cash deal to acquire headset specialist Astro, in a bid to break into the console eSports market.
In a significantly higher transaction value than Logitech's sub-£10 million acquisition of Saitek from Mad Catz last year, Logitech has agreed to pay £65.8 million in cash to acquire headset maker Astro. The deal propels Logitech to the number one market share position in headsets, mice, keyboards, and webcams, the company has claimed in its announcement of the deal.
'Astro is the leading player for premium console headsets and is the preferred headset for console eDports athletes,' claimed Ujesh Desai, vice president and general manager of Logitech's gaming division Logitech G. 'It's a perfect complement to Logitech G's focus on PC gaming and we couldn't be more excited; we love the team, the brand and the products. Together, we want to make game play even more fun for gamers everywhere.'
'The whole team at Astro has always held Logitech and Logitech G products in the highest regard, so I'm ecstatic we are joining forces,' added Astro's Jordan Reiss, co-founder and president, of the acquisition. 'Astro's brand strength combined with Logitech G's unrivalled technology and global distribution network is going to bring our products to even more gamers around the world.'
Astro is best known for console and PC compatible gaming headsets, in particular the well-received if high-priced A40 with optional MixAmp Pro external soundcard. The company was launched as a spin-off from the Astro Studios design outfit through a private round of funding.
February 24 2020 | 12:00