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Turtle Beach completes purchase of PC components producer Roccat


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Turtle Beach completes purchase of PC components producer Roccat

San Diego-based gaming-accessory maker Turtle Beach Corp. on June 3 said it completed its acquisition of German personal computer components producer Roccat GmbH.

Turtle Beach, through its subsidiary TBC Holding Co. LLC, on March 11 agreed to purchase the PC peripherals business of Roccat, which produces gaming keyboards, mice and other PC accessories, for about $19.2 million.

At the time, TBC agreed to pay $14.8 million in cash, $1 million in cash or stock at the company's option, and potential earn-out payments of up to approximately $3.4 million for Roccat. Turtle Beach also said it expects Roccat's partial year contribution to its 2019 revenue to reach approximately $20 million to $24 million.

Most recently, Turtle Beach said it acquired Roccat for $15.6 million in cash, plus up to $3.3 million in earn-out payments. The company added that it expects revenues from Roccat products to reach more than $30 million in 2020 and for the acquisition to be accretive to its net income and EPS by the same year.

Turtle Beach CEO Juergen Stark said the acquisition of Roccat will help accelerate the U.S. audio technology company's expansion into the PC gaming headset, keyboard and mice market. Turtle Beach also said the transaction is "a key step" in its plan to establish a $100 million PC gaming accessories business "in the coming years."