May 27, 2019

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Turtle Beach to buy Roccat

by Stuart Wilson, Friday 15 March 2019

Juergen Stark, CEO of Turtle Beach
Juergen Stark, CEO of Turtle Beach

NASDAQ-quoted gaming headset and audio accessories brand Turtle Beach has announced an agreement to buy Roccat – a German PC peripherals brand offering gaming mice, keyboards and other accessories. Turtle Beach will pay US$14.8m cash for Roccat, plus up to US$3.4m in earnout payments. Roccat is expected to boost Turtle Beach’s sales by more than US$30m in 2020.

“This is a dynamic and strategically important deal for Turtle Beach,” said Juergen Stark, CEO of Turtle Beach. “We are adding a complementary portfolio of PC gaming mice and keyboards, a skilled PC accessories team, and a highly synergistic distribution footprint.

The acquisition significantly accelerates Turtle Beach’s planned expansion into the US$2.9 billion market for PC gaming headsets, mice and keyboards. By acquiring Roccat, Turtle Beach further strengthens its market position in key PC-centric European territories, including Germany where Roccat is already a well-respected leading brand.

Additionally, Roccat will see the benefits of Turtle Beach’s strong sales and distribution in North America and across Europe, while Turtle Beach will gain distribution into new Asian markets through Roccat’s presence in those markets.

Stark added: “The acquisition is also a key step in achieving our goal of building a US$100 million PC gaming accessories business in the coming years. Roccat accelerates our expansion into the roughly US$1.6 billion PC gaming headset market, as well as directly enables us to address the roughly US$1.3 billion PC gaming keyboard and mice market.”

“We believe our combined product portfolio is one of the strongest in the industry, covering gaming headsets for consoles and PCs, gaming keyboards and mice. Together we will have 48 core product models to pursue the total addressable market of over US$4.7 billion in North America, Europe and Asia,” he added.

Stark continued, “We are thrilled to welcome René Korte and the Roccat team to the Turtle Beach family, as they are a highly talented group with deep experience in PC accessories and have a similar focus on providing high quality, innovative products to gamers worldwide.”

René Korte, CEO of Roccat, said: “We’ve long admired how Turtle Beach’s pioneering headsets have elevated gaming and it is an honour to join forces and bring our great products to more gamers. I have no doubt that combining Roccat’s strength in the PC peripherals market with Turtle Beach’s 45 years of experience, impressive technology, console dominance, and strong brand will bring even more victories to gamers around the world.”

Roccat has been ranked as one of the top 10 best-selling gaming peripheral brands in Europe, and per recent Newzoo consumer survey data, is one of the top four brands for awareness, purchase consideration, and preference for gaming keyboards and mice in the German PC gaming peripheral market.

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