Saitek is a well-regarded brand of gaming peripherals, a fact likely known by the crowd that hangs around here. Roughly nine years ago, Madcatz figured it wanted Saitek's quality items and ponied up $30 million for the company. Now, after a few difficult quarters with operating losses, Madcatz figured it was time to let Saitek go live under Logitech's wing for $13 million in cash.
Madcatz didn't have much to say about the sale. Logitech, on the other hand, calls the transaction a "tuck-in acquisition" intended to grab Saitek's product portfolio. The company hopes to complement its own "G" lineup of gaming peripherals with Saitek's gear, and mentions its G29 and G920 Driving force wheels as good companions for the incoming reinforcements.
Seeing as it paid what is a relatively small sum in cash, Logitech says "[the] asset acquisition is not considered material to Logitech's quarterly or full-year financial results." Saitek's website has already been updated with a Logitech logo, so it looks like the new parent company isn't wasting any time.
|SilverStone Nitrogon NT08-115XP cooler fits in nearly any case||4|
|Samsung set to disable remaining Galaxy Note 7 handsets||34|
|Deals of the week: laptops and spinning storage||13|
|Qualcomm readies up 48-core Centriq 2400 ARM server chip||54|
|BitFenix Shogun chassis goes for internal and external coolness||3|
|AMD and Intel join forces for a bundle of hardware and games||59|
|Report: Samsung Galaxy S8 may go into full-screen mode||23|
|Gigabyte XK700 keyboard will challenge your limits||22|
|Microsoft and Intel set to bring AR to the people with Project Evo||10|