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MCZ - NEWS TODAY huge investment bought by MCZ

Co announces it has entered into a definitive agreement to acquire 100% of the shares of the private holding co that owns Saitek's worldwide operations. Saitek is a leading worldwide provider of PC games accessories, PC input devices, multimedia audio products, chess and intelligent games. Under the terms of the agreement, the $30 mln purchase consideration is subject to working capital adjustment and is comprised of $15.5 million in cash from MCZs' cash on hand and borrowings under the co's existing credit facility, as well as the issuance to the seller by MCZ of $14.5 mln of convertible notes. MCZ expects the acquisition to be accretive to its fiscal 2008 earnings and cash flow