Turtle Beach Corp. (HEAR)

[realfast95]

Turtle Beach To Acquire Leading PC Gaming Accessory Business ROCCAT

- Acquisition Accelerates Turtle Beach's PC Market Expansion Through ROCCAT's Full Portfolio of PC Gaming Accessories -

- Adds New Distribution for Both Brands in North America, Europe and Asia -

Turtle Beach is acquiring ROCCAT for $14.8 million in cash, net of a working capital adjustment, $1 million in cash or stock (company option), plus up to approximately $3.4 million in earnout payments.[2] Following the completion of the transaction, which is expected in the second quarter, ROCCAT's partial year contribution to Turtle Beach's 2019 net revenue is expected to be approximately $20–$24 million. The Company expects revenues from ROCCAT products to be over $30 million in 2020, and that the acquisition will be accretive to net income and EPS in 2020.