Turtle Beach, a well-known gaming accessory brand, has exciting news for gamers! The company has officially announced its acquisition of PDP, a leading maker of gaming peripherals. This strategic move will further strengthen Turtle Beach’s position in the industry and expand its product offerings to provide gamers with even more options.

Here are some key points to know about Turtle Beach’s acquisition of PDP:

– The acquisition was made at an enterprise value of $118 million USD (approximately $158 million CAD), showcasing Turtle Beach’s commitment to growth and innovation in the gaming accessories market.
– Turtle Beach has been diversifying its product portfolio over the years, moving beyond just gaming headsets to include flight sticks, racing wheels, and third-party controllers. PDP is also renowned for its wide range of gaming accessories such as controllers, headsets, and power cases.
– With the acquisition of PDP, Turtle Beach aims to expand its presence across various platforms. While Turtle Beach’s controller lines have been Xbox exclusive so far, PDP’s licensing rights cover platforms like Switch, PlayStation, and PC. This partnership opens up exciting possibilities for cross-platform compatibility and new product offerings.
– Cris Keirn has been appointed as the Chief Executive Officer by the Board of Directors following the acquisition. Keirn expressed enthusiasm about collaborating with both Turtle Beach and PDP teams to drive innovation and deliver exceptional products for gamers worldwide.
– The anticipated combined total revenue for Turtle Beach post-acquisition is projected to range between $390 million USD to $410 million USD (approximately $525 million CAD to $552 million CAD) within the first 12 months. This forecast reflects the company’s optimistic outlook on future growth and success.

With this strategic acquisition, Turtle Beach is poised to elevate the gaming experience for enthusiasts by offering a wider range of high-quality accessories across multiple platforms. Stay tuned for exciting new developments from this dynamic partnership!