Late last week a story slipped under the radar. Reuters wrote gaming hardware and peripheral maker Corsair may be bought by private equity firm EagleTree Capital. The news agency heard from two sources that talks are in an advanced stage and that EagleTree secured financing from Goldman Sachs, Macquarie Group and BNP Paribas.
Corsair is currently owned by Chief Executive Andy Paul, who founded the company in 1994. Francisco Partners made a $75 million investment in the company in 2013 after the company scrapped its IPO plans. Francisco did not respond to requests for comment.
Corsair reportedly pulls in EBITDA of about $55 million and Reuters claims EagleTree is expected to pay 9 to 10 times that figure. At the midpoint, that would be a valuation of $525 million.