Logitech has made the latest acquisition to its portfolio, buying out gaming accessory rival Astro Gaming to bolster its presence in the space.
Announced earlier today, Logitech is set to acquire as part of an $85 million all-cash deal due to close in August. It’s the latest of several major acquisitions that have fueled the company’s growth in recent years, from UE to Jaybird.
“ASTRO is the leading player for premium console headsets and is the preferred headset for console esports athletes,” said Ujesh Desai, vice president and general manager of Logitech G.
According to Desai, Astro is “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.”
The company say that “with the addition of ASTRO, we’re investing in an adjacent gaming market — the console gaming market — to help accelerate the long-term growth of our gaming business.”
They expect the acquisition of ASTRO to add approximately two points of growth to the top line for the 2018 financial year “and to be slightly dilutive to the bottom line in the first year, as we integrate the business and invest to expand ASTRO internationally.”
Rather than shutter a potential rival, they intend to operate the two brands independently with one focused on the PC gaming space and the other on the console market.
Speaking to CNET, Desai says insists that Logitech are taking an “if it ain’t broke, don’t fix it” approach to the new brand.
Co-founder and president of ASTRO Jordan Reiss says that “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.”