![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, June 03, 2019 8:44:03 AM
PR Newswire
SAN DIEGO and HAMBURG, Germany, June 3, 2019
SAN DIEGO and HAMBURG, Germany, June 3, 2019 /PRNewswire/ -- Turtle Beach (Nasdaq: HEAR), the global leader in gaming headsets and audio accessories, today announced the Company has completed its acquisition of ROCCAT, a leading German PC peripherals business with a history of producing award-winning gaming keyboards, mice and other PC accessories.
Turtle Beach's acquisition of ROCCAT marks the beginning of the next phase in the Company's expansion into the massive $2.9 billion(1) market for PC gaming headsets, mice and keyboards, and is a key step in its goal of building a $100 million PC gaming accessories business in the coming years.
"With the acquisition of ROCCAT complete, we have a bigger and more powerful Turtle Beach than ever before, and we believe our combined product portfolio will be one of the strongest in the industry," said Juergen Stark, CEO, Turtle Beach Corporation. "The ROCCAT team and their products already have a great reputation among PC gamers, and their expertise will help accelerate our expansion into the roughly $1.6 billion(1) PC gaming headset market, and the roughly $1.3 billion(1) PC gaming keyboard and mice market. Our goal is to expand from being the leader in console gaming headsets into becoming a leading gaming accessory brand for all platforms."
René Korte, the new co-managing director of Turtle Beach's German subsidiary added, "It's a very exciting time for Turtle Beach and ROCCAT, as our newly combined portfolio now features nearly 50 current core product models across PC gaming mice and keyboards, PC gaming headsets, and console gaming headsets. And through our newly combined distribution channels across North America, Europe, and Asia, we'll be able to deliver our lineup of award-winning products to an even bigger audience of gamers around the world."
Turtle Beach acquired ROCCAT for $15.6 million in cash plus up to $3.3 million in earnout payments(2) . The Company expects revenues from ROCCAT products to be well over $30 million in 2020, and that the acquisition will be accretive to net income and EPS in 2020.
For more information on Turtle Beach's lineup of high-quality, German-engineered PC gaming accessories, visit https://roccat.org. For the latest information on Turtle Beach products, accessories, and stories, visit the Turtle Beach website at www.turtlebeach.com and the Turtle Beach Blog at https://blog.turtlebeach.com. Fans can also follow Turtle Beach on Facebook, Twitter, and Instagram.
(1) Newzoo 2019 Peripheral Market Estimates.
(2) Dollar amounts are approximations converted at 1.11 given that the deal is in Euros. Net working capital adjustment is a current estimate which could change. Dollar value of earnouts (worth up to EUR3M) will reflect exchange rate at the time of payment.
Recent HEAR News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/13/2024 08:05:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 01:21:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 08:57:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 09:37:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/31/2024 09:25:43 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/30/2024 08:05:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/28/2024 09:00:10 PM
- PDP Expands Its Award-Winning Victrix Pro FS Arcade Fight Stick Line With Two New Limited-Edition Designs • Business Wire • 05/28/2024 12:30:00 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 05/21/2024 10:08:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 10:03:11 PM
- Raise Your Rank With Turtle Beach – New Gaming Headsets, Keyboards, & Mice – Now Available • Business Wire • 05/20/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 11:23:54 PM
- PDP’s Victrix Gambit Prime Wired Tournament Controller Is Engineered to Win & Available Now • Business Wire • 05/16/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 10:39:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/13/2024 09:27:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/13/2024 09:22:04 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 09:31:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 09:00:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 08:56:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 08:53:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:20:17 PM
- Turtle Beach Announces First Quarter 2024 Earnings Results • Business Wire • 05/07/2024 08:05:00 PM
- Turtle Beach Corporation to Report First Quarter 2024 Financial Results on Tuesday, May 7, 2024 • Business Wire • 04/23/2024 08:05:00 PM
- PDP Celebrates Fortnite Festival Season 3 With the Launch of the RIFFMASTER Wireless Guitar Controller • Business Wire • 04/23/2024 01:15:00 PM
- Best-Selling Gaming Accessory Brand Turtle Beach Unveils New Gaming Headsets, Keyboards, & Mice Launching May 2024 • Business Wire • 04/18/2024 12:30:00 PM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM