Global computer and mobile accessories manufacturer Logitech on Wednesday announced acquisition of US-based gaming console brand ASTRO Gaming for an all-cash deal of $85 million.
The acquisition is aimed at accelerating long-term growth of the company's gaming business in the console gaming market.
"ASTRO is the leading player for premium console headsets and is the preferred headset for console e-sports athletes," said Ujesh Desai, Vice-President and General Manager, Logitech G, in a statement.
"It's a perfect complement to Logitech G's focus on PC gaming and we couldn't be more excited," Desai added. ASTRO is known for its "A40" and "A50" headsets designed for pro-gamers and core enthusiasts.
Logitech and ASTRO will manufacturer headsets, mice, keyboards and streaming webcams for PC and console gamers.
"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," said Jordan Reiss, co-Founder and President, ASTRO Gaming. The deal is expected to close in early August.
This information comes after Logitech decided to grow in the declining PC peripherals market by stepping in other product markets and recently introduced a home control device it calls Pop switch which can act as a remote control for lights, door locks, speakers, thermostats and other household devices.
Published Date: Jul 12, 2017 19:47 PM | Updated Date: Jul 12, 2017 19:47 PM