DV Hardware - bringing you the hottest news about processors, graphics cards, Intel, AMD, NVIDIA, hardware and technology!
   Home | News submit | News Archives | Reviews | Articles | Howto's | Advertise
 
DarkVision Hardware - Daily tech news
August 12, 2020 
Main Menu
Home
Info
News archives
Articles
Howto
Reviews
 

Who's Online
There are currently 149 people online.

 

Latest Reviews
Ewin Racing Flash gaming chair
Arctic BioniX F120 and F140 fans
Jaybird Freedom 2 wireless sport headphones
Ewin Racing Champion gaming chair
Zowie P-TF Rough mousepad
Zowie FK mouse
BitFenix Ronin case
Ozone Rage ST headset
 

Follow us
RSS
 

Majority stake in Corsair sold for $525 million

Posted on Wednesday, July 26 2017 @ 22:39:38 CEST by


Corsair logo
Rumors about a deal involving Corsair were true. A press release hit the web today that EagleTree Capital, IMCO (Investment Management Corporation of Ontario) and the Honeywell pension have purchased Francisco Partners' majority stake in computer hardware and peripheral maker Corsair. The deal is valued at $525 million.
CORSAIR®, a world leader in high-performance PC components, gaming peripherals, and enthusiast memory, announced today that EagleTree Capital (“EagleTree”), formerly Wasserstein Partners, has reached a definitive agreement in partnership with current management to acquire a majority stake in CORSAIR from Francisco Partners and several minority shareholders. As part of the transaction, CORSAIR founder and Chief Executive Officer Andy Paul will maintain a sizable equity stake in the company and continue in his role as CEO. IMCO (Investment Management Corporation of Ontario) and the Honeywell pension are also co-investing alongside EagleTree, which is acting on behalf of its private equity fund EagleTree Partners IV.

Founded in 1994, CORSAIR has grown from a single performance memory product line into a leading global provider of high performance branded computer products, including memory, components, peripherals, and complete systems. The company’s diverse portfolio of premium PC gaming products serves the high-growth PC gamer market, and the products are available through distributors and retailers in over sixty countries worldwide.

“We are excited about the opportunity to partner with EagleTree and leverage the team’s consumer products expertise to further accelerate our progress,” said Andy Paul, Founder and CEO of CORSAIR. “We are very fortunate to have attracted such experienced investment partners. EagleTree’s backing will allow us to continue to focus first and foremost on our loyal and passionate customers and accelerate our investment in innovation and new technology and products to enhance the quality experience that enthusiasts and gamers have come to expect from us.”

“This is a transformative time in the PC gaming industry. A rapidly growing global gamer population, together with the rise of eSports and streaming, has made PC gaming one of the world’s most dynamic industries,” said George Majoros, Jr., Co-Managing Partner of EagleTree. “CORSAIR is the undisputed leader in PC gaming hardware and has built a strong brand on a foundation of quality, innovation and an unwavering commitment to its passionate fans. We look forward to working with Andy and CORSAIR’s talented management team to maintain the company’s focus on innovative products, to expand into new markets, and to pursue selective transactions.”

“It has been our pleasure to partner with Andy and the team at CORSAIR. They have built an incredible company and are well positioned for continued success,” said Andrew Kowal, Partner at Francisco Partners. “We wish the company and EagleTree all the best in their next chapter of growth.”

“Francisco Partners was a great partner to CORSAIR over the last several years,” added Andy Paul. “Their counsel helped us accelerate our strategic objectives to diversify and deepen our product portfolio, realize an expanded global footprint, reinforce and focus our brand, and strengthen our financial position.”

Barclays Capital Inc. served as financial advisor and Paul Hastings LLP served as legal advisor to CORSAIR.

Macquarie Capital and BNP Paribas provided financing and acted as financial advisors to EagleTree on the transaction. Jones Day served as legal advisor to EagleTree.

The transaction is expected to close in the next several months, subject to customary closing conditions.
If you want to learn more about the deal, Hexus secured an exclusive interview with Corsair CEO Andy Paul. You can read it over here, the snippet below explains what the deal means for consumers:
How does this purchase benefit Corsair’s loyal customers, if at all?

The overall growth of our business over the last 4-5 years as well as the renewed financial resources of the investment from EagleTree provides Corsair the scale to invest more deeply into new technologies and customer experience throughout the product life cycle. This foundation will help us provide more innovative products such as the recent launch of Corsair One and better service to our customers, which is one of the most important goals for the company. I can say that Corsair is stepping up its game.




 



 

DV Hardware - Privacy statement
All logos and trademarks are property of their respective owner.
The comments are property of their posters, all the rest © 2002-2019 DM Media Group bvba