CORSAIR plans to acquire Endor AG, the owner of Fanatec, a popular sim racing brand, and provide funding and debt restructuring to pave the way for the acquisition, with both companies expressing enthusiasm for the potential partnership.
- CORSAIR's acquisition of Endor will provide immediate financial support for the company, allowing it to continue operations and potentially expand its products.
- The restructuring of Endor's debt will alleviate a significant burden for the company, allowing it to focus on growth and development under CORSAIR's ownership.
- CORSAIR's understanding of the market and long-term investment plans make them an ideal partner for Endor, ensuring the company's future success and stability.
Corsair, a technology company, has announced its plans to acquire Endor AG, the owner of the popular Fanatec brand, which specializes in SIM Racing. The two companies are currently in exclusive negotiations, with CORSAIR agreeing to provide funding for Endor’s immediate financial needs. Additionally, both companies are working towards restructuring Endor’s debt of approximately €70 million, a move that will pave the way for CORSAIR to acquire Endor pending approval under German insolvency laws.
Andy Paul, CEO of CORSAIR, expressed his enthusiasm for the potential acquisition, stating that Fanatec is an exceptional brand with a dedicated community. He believes that CORSAIR is the perfect fit for Fanatec’s customers, employees, and business partners. Furthermore, Paul believes that this transaction will alleviate Endor’s substantial debt burden and position the company for future growth and expansion.
Endor’s CEO and Chief Restructuring Officer, Andres Ruff, shares Paul’s sentiment, expressing satisfaction in finding a strategic investor like CORSAIR. Ruff believes that CORSAIR’s understanding of the market and long-term investment plans make them an ideal partner for Endor.
Endor is a leading manufacturer of sim racing hardware, specializing in force feedback steering wheels, pedals, and complete cockpits for Playstation, XBOX, and PC-based racing simulators. This acquisition further strengthens CORSAIR’s presence in the simulation space and positions the company as a leader in providing top-notch sim racing solutions.
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Background Information
About Corsair:
Corsair, founded in 1994, is a manufacturer of high-performance gaming and enthusiast PC components and peripherals. The company specializes in producing top-tier gaming keyboards, mice, headsets, as well as computer cases, power supplies, and memory modules. Corsair has earned a strong reputation in the industry for its commitment to quality and innovation, catering to gamers and PC enthusiasts worldwide.
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