Logitech Acquires ASTRO Gaming To Expand In The Console Market
In a surprising move, Logitech announced the acquisition of ASTRO Gaming, the popular brand of gaming headsets. According to the press release, Logitech acquired ASTRO Gaming to expand in the console market and the company now boasts that together, Logitech and ASTRO is “the number one maker of headsets, mice, keyboards and streaming webcams for PC and console gamers”.
Ujesh Desai, vice president and general manager of Logitech G, stated:
ASTRO is the leading player for premium console headsets and is the preferred headset for console esports athletes. It’s a perfect complement to Logitech G’s focus on PC gaming and we couldn’t be more excited; we love the team, the brand and the products. Together, we want to make game play even more fun for gamers everywhere.
Jordan Reiss, co-founder and president of ASTRO, added:
The whole team at ASTRO has always held Logitech and Logitech G products in the highest regard, so I’m ecstatic we are joining forces. ASTRO’s brand strength combined with Logitech G’s unrivaled technology and global distribution network is going to bring our products to even more gamers around the world.
Logitech purchased ASTRO Gaming for $85 million in cash and the acquisition should be completed by early August. The company believes this move will accelerate the long-term growth of Logitech’s gaming business; they also provided an outlook on the expected impact on financial results for Fiscal Year 2018.
In FY 2018, we expect the acquisition of ASTRO to add approximately two points of growth to the top line, and to be slightly dilutive to the bottom line in the first year, as we integrate the business and invest to expand ASTRO internationally.
Meanwhile, you can find an additional statement published by ASTRO on their official blog.