Mad Catz completes acquisition

Firm finalises its acquisition of electronic games specialist Saitek for $30 million.
Author:
Publish date:
Social count:
0
5_Pocoyo.jpg

Video games peripherals manufacturer, Mad Catz, has announced it has finalised its acquisition of electronic games specialist, Saitek for $30 million.

The announcement comes one week after the deal was initialised.

Darren Richardson, president and CEO of Mad Catz said, “Saitek immediately advances Mad Catz’ industry position as one of the world’s leading games peripherals companies and provides us with a strong and established presence in the PC peripherals business.

“We are excited to move forward with the combined Mad Catz and Saitek team to profitably grow both the console games and PC peripherals businesses and, most importantly, to capitalize on the opportunities our combined capabilities create to meaningfully grow shareholder value.” Richardson said.

The deal, which was subject to working capital adjustment, comprised of $15.5 million in cash from Mad Catz’ cash on hand and borrowings under the Company’s existing credit facility, as well as the issuance to the seller by Mad Catz of $14.5 million of convertible notes. 

Related

5_Pocoyo.jpg

Saitek sold

Electronic games specialist Saitek has been acquired by video games peripherals manufacturer Mad Catz for around $30m.

5_Pocoyo.jpg

Corgi completes merger deal

Corgi International Limited has completed its merger with Master Replicas, with Michael Cookson and Jennifer Klatt of Master Replicas named CEO and CFO of the new set-up.

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.