Saitek sold

Electronic games specialist Saitek has been acquired by video games peripherals manufacturer Mad Catz for around $30m.
Author:
Publish date:
Social count:
0
5_Pocoyo.jpg

The deal is subject to working capital adjustment and is 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.

Saitek’s product lines include chess and intelligent games, PC games accessories, PC input devices and multimedia audio products.

Saitek’s 120 employees in product development, sales and marketing, distribution and finance/administration are expected to join Mad Catz. Saitek has offices in the UK, Germany, France, the US, Hong Kong and China.

In its latest fiscal year ended February 28th, 2007, Saitek generated over $43 million of net sales and its gross margins exceeded those generated by Mad Catz in its latest twelve months.

Related

5_Pocoyo.jpg

Brite Power sold

Brite Power has been sold to Liverpool-based wholesaler Benross Marketing, with boss Charles Spieler staying with the firm part-time for a period while also helping to establish French firm Canal Toys in the UK.

5_Pocoyo.jpg

Bandai swoops for Namco

A new Japanese toys and games powerhouse has been created, with Bandai acquiring video game firm Namco in a deal worth some $1.6bn.

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.