Subj : Corsair announces new acquisition of the sim racing company Fanat
To   : All
From : TechnologyDaily
Date : Tue Sep 17 2024 11:15:05

Corsair announces new acquisition of the sim racing company Fanatec

Date:
Tue, 17 Sep 2024 10:06:45 +0000

Description:
Corsair announced its plans to acquire the German company back in May

FULL STORY
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Corsair has announced it has signed a definitive agreement to acquire the sim 
racing brand Fanatec. 

The agreement was officially signed on September 16 with the deal set to 
formally close within the week, making Corsair the new owner of the hardware 
brand and all associated personnel, in an asset purchase from Endor AG. 

Fanatec is one of the leading brands for dedicated sim racing hardware 
located in Landshut, Germany, specializing in steering wheels and wheelbases, 
pedals, shifters, and other accessories for PlayStation, Xbox, and PC-based 
racing simulators. 

Corsair announced its plans to acquire the German company back in May, with 
Endor now reporting that Fanatec product sales were approximately $110 
million for 2023. 

"We have been a fan of the Fanatec brand for years, and I am thrilled that we 
were finally chosen to be the next home for Fanatec products," said Andy 
Paul, CEO of Corsair in a Business Wire press release . "We intend to use our 
extensive supply chain and logistics network to reduce operating costs, 
enhance users customer service experience, increase sales opportunities, and 
help the business return to profitability." 

Fantatec has reportedly seen a massive growth in the last five years due to 
the ongoing interest in on-track racing and motorsports in gaming. According 
to Business Wire, industry analysts estimate that the Sim Racing components 
market is now at $1 billion, with an expected 20 percent annual growth rate. 

"We intend to maintain the core business in Landshut while expanding its 
position as a world-class product development center for Sim Racing 
products," Paul continued. "With a strong two-decade legacy, Fanatec is 
recognized as a pioneer and a mainstay for racing enthusiasts across the 
globe, and we look forward to building on that heritage as we leverage 
Corsairs long track record of product innovation and customer experience 
leadership." You might also like... The next PlayStation handheld may be in 
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confirmed with pre-orders starting on September 26



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Link to news story:
https://www.techradar.com/gaming/gaming-industry/corsair-has-officially-acquir
ed-the-sim-racing-company-fanatec


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