SteelSeries Has Acquired The Performance Gaming Gear Company, KontrolFreak
SteelSeries has announced its acquired the company of KontrolFreak, which is a well-known controller accessory manufacturer. KontrolFreak has created products ranging from Performance Thumbsticks, Precision Rings, Performance Grips, and Gaming Cables. This recent acquisition will be SteelSeries' second large acquisition within the last year following its acquisition A-Volute.
SteelSeries has acquired the globally-renowned KontrolFreak, and this comes after it acquired A-Volute
The gaming peripheral company has just completed it's second major acquisition, SteelSeries has acquired the controller accessory company of KontrolFreak. The CEOs from both SteelSeries and KontrolFreak both made statements regarding the acquisition. SteelSeries and KontrolFreak's markets are incredibly similar, as SteelSeries creates various controllers while KontrolFreak creates controller accessories.
Ehtisham Rabbani, CEO of SteelSeries, said, “With the next-generation consoles at the forefront of the gaming industry’s mind, there’s never been a better time to maximize our ability to provide the best gaming experiences and products to console gamers; with KontrolFreek’s expertise and global popularity, we know they’ll open new opportunities to entertain, delight, and assist new gamers across the world.”
Partner in Axcel, the controlling shareholder of SteelSeries, Lars Cordt, said, "With the acquisition of KontrolFreek, SteelSeries is strengthening its position in the console gaming market, which was a key-value creation initiative at our entry into the business. We look forward to realizing the synergies and further developing the KontrolFreek brand.”
Ashish Mistry, CEO of KontrolFreek, stated, “This is a huge milestone for KontrolFreek; after more than 10 years of building our own brand and products, and as we continue on our mission to enhance gaming globally, it made perfect sense to join forces with SteelSeries to take both brands to the next level.”
KontrolFreak has a large community of over 4 million gamers called the FreakNation, which shows how influential they are in the performance gaming gear market. This popularity arose because of KontrolFreak's expertise in creating Performance gaming creat for various consoles and PCs.
This is SteelSeries' second large acquisition after acquiring A-Volute, the leading independent developer of 3D sound solutions for gaming. The A-Volute acquisition took place back in April. These two acquisitions will allow SteelSeries much larger development options for their controllers and peripherals.