- Consumer electronics giant Logitech announced recently that it is acquiring San Francisco-based Streamlabs for $89 million. These are the details about the deal.
Consumer electronics giant Logitech recently announced it was acquiring San Francisco-based Streamlabs for $89 million. Streamlabs is considered a leader in software and tools for live streaming thus allowing game streamers to engage with viewers, grow their brands and channels, and monetize their broadcasts across Twitch, YouTube, Mixer, and Facebook.
“We’ve been fans of Streamlabs and their software since we started partnering with them over two years ago. Their industry-leading software is complementary to our existing gaming portfolio, and we believe we can do even greater things together,” said Ujesh Desai, the general manager and vice president of Logitech G.
Along with the $89 million in cash, Logitech will provide an additional payment of $29 million in Logitech stock subject to the achievement of significant revenue growth targets for Streamlabs. This acquisition is not expected to materially impact Logitech’s Fiscal Year 2020 annual net sales or non-GAAP operating profitability. And it is subject to customary closing conditions and is expected to close in the coming weeks.
“Streamlabs and Logitech both share a strong passion for gaming and a dedication to serving the global community of gamers and streamers. Joining with Logitech allows us to keep doing what we love and be bolder than ever on a much bigger stage,” added Streamlabs CEO Ali Moiz.
Logitech launched more than 35 years ago in Lausanne, Switzerland. And Logitech connects people through computers, music, gaming, and video. Logitech’s brands include Logitech, Logitech G, ASTRO Gaming, Ultimate Ears, Jaybird, and Blue Microphones.
