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There was a good piece of surprise for those following Turtle Beach's finances this week. In addition to a "record fourth quarter," the helmet maker announced plans to acquire another gambling device company, Roccat, for $ 14.8 million in cash.
Turtle Beach is best known for creating game headsets for a wide range of consoles, personal computers and mobile devices. The takeover of Roccat, based in Germany, will help the San Diego company expand to other devices such as mice and keyboards. Turtle Beach also hopes that it will help expand its mainly Asian and European sales in Asia, where Roccat has already made a dent.
In a press release related to this news, Juergen Stark, CEO of Turtle Beach, qualifies this deal as "a crucial step in achieving our goal of creating a computer gaming accessory company of 100 millions of dollars in the coming years ".
The complementary nature of the product portfolios of both companies should certainly contribute to the development of the Turtle Beach brand. However, it is unclear whether the company will continue to maintain the Roccat line in markets where it has already found success. This would certainly make a lot of sense in the short term.
Turtle Beach expects the transaction to close in the second quarter.
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