Logitech Acquires ASTRO Gaming for $85 Million Establishing Itself in the Console Gaming Space
The PC gaming peripherals market has been pretty great to Logitech lately, as the company’s recent financials revealed that their gaming products lineup saw as much as a 28% increase in sales in FY’17 year-over-year growth.
In order to maintain the momentum, Logitech has recently announced the acquisition of ASTRO Gaming, a gaming peripherals maker primarily focused in the console gaming space. Logitech believes that the acquisition of ASTRO Gaming will help Logitech quickly expand to the console gaming market and accelerate long term growth in the gaming division.
According to the announcement, Logitech will acquire ASTRO Gaming for $85 million in cash and is expected to seal the deal in early August. The acquisition of ASTRO Gaming is the latest gaming peripherals related acquisition for the company after acquiring the Saitek brand from the now defunct Mad Catz for $13 million back in 2016.