CORSAIR® (Nasdaq: CRSR) announced today that it has entered exclusive negotiations to acquire sim racing specialist Endor AG, owners of the world famous Fanatec brand. CORSAIR has reached an agreement with Endor to fund its short-term cash needs while both companies negotiate a restructuring of Endor’s approximately €70 million of debt, which will ultimately result in CORSAIR acquiring Endor.
“Fanatec is an incredible brand with a strong community, and we believe CORSAIR is the ideal home for Fanatec’s loyal customers, employees and business partners,” said Corsair CEO, Andy Paul. “This transaction would solve the company’s significant debt load and position the company for growth and continued product portfolio expansion.”
This sentiment is echoed by Endor. “We are very pleased to have found a strategic investor in Corsair who knows our market well and wants to invest for the long term,” said Andres Ruff, CEO and Chief Restructuring Officer of Endor.
Endor is a leading manufacturer of dedicated sim racing hardware, including force feedback steering wheels, pedals, and complete cockpits for PlayStation, Xbox, and PC-based racing simulators. This acquisition bolsters the investment CORSAIR has made in the simulation space, and means it is uniquely positioned going forward to provide peerless sim racing solutions.
