Mad Catz is already behind some of the most well known peripherals in gaming and now the company has purchased leading headset maker Tritton in an acquisition totaling over $1 million at closing, with a maximum of $9 million in cash over the next five years subject to sales performances.
“The gaming headset category is one of the fastest growing within the gaming sector, and the acquisition of Tritton significantly enhances Mad Catz’ opportunities in this very attractive market segment,” said Darren Richardson, president and chief executive officer of Mad Catz. “Tritton has developed an attractive portfolio of premium products and a brand that resonates strongly with gaming enthusiasts. Additionally, this acquisition further diversifies Mad Catz’ revenue base and is consistent with our strategy to create shareholder value by leveraging our global capabilities with high-value products that enhance the gaming experience.”
Tritton generated about $8 million in revenue last year, mostly from North America. Its high-end gaming headsets retail from $69.99 to $169.99 and offer true Dolby Digital surround sound. The company also has a line of USB video products.
Pursuant to the terms of the agreement, Mad Catz will also enter into an employment agreement with Tritton founder and chief executive officer, Christopher Von Huben, and a limited number of other key Tritton employees.
Von Huben commented, “We are thrilled to be joining the Mad Catz organization. Tritton has built a successful brand and lineup of gaming audio headsets and computer peripheral products. I am confident that with Mad Catz’ global capabilities we can significantly increase our market penetration and more rapidly grow the Tritton brand.”
Mad Catz already has the music genre business down, and it seems like they are working on getting into the PC world with this latest acquisition.
