PC peripheral maker Corsair has announced that it is entering exclusive negotiations to acquire sim racing company Fanatec, owned by Endor AG.
As part of the negotiations, Corsair and Endor AG reached an agreement that will see Corsair fund the company’s “short-term cash needs while both companies negotiate a restructuring of Endor’s approximately €70 million of debt.”
“Fanatec is an incredible brand with a strong community, and we believe CORSAIR is the ideal home for Fanatec’s loyal customers, employees and business partners,” said Corsair CEO, Andy Paul, via release.
“This transaction would solve the company’s significant debt load and position the company for growth and continued product portfolio expansion.”
Endor AG CEO Andres Ruff said that the company is “pleased to have found a strategic investor that knows the market well.” Endor AG, and the Fanatec brand, have been around since the 1990s, and have become known for their sim racing hardware for PC and console.
Insider Gaming has reached out for more information on what this acquisition could mean for Corsair, and will have more information as it becomes available. Corsair also owns the SCUF, Elgato, and Origin brands.
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