MILPITAS, Calif.–(BUSINESS WIRE)–CORSAIR announced today the signing of a definitive agreement to acquire the Fanatec Sim Racing brand and all associated personnel, in an asset purchase from Endor AG. The acquisition is expected to close within the week.
Located in Landshut, Germany, Fanatec Sim Racing products include force feedback steering wheels and wheelbases, pedals, shifters and other accessories for PlayStation, Xbox, and PC-based racing simulators. Endor reported that Fanatec product sales were approximately $110 million for 2023 (unaudited).
“We have been a fan of the Fanatec brand for years, and I am thrilled that we were finally chosen to be the next home for Fanatec products. We intend to use our extensive supply chain and logistics network to reduce operating costs, enhance users’ customer service experience, increase sales opportunities, and help the business return to profitability,” said Andy Paul, CEO of Corsair. “We intend to maintain the core business in Landshut while expanding its position as a world-class product development center for Sim Racing products. With a strong two-decade legacy, Fanatec is recognized as a pioneer and a mainstay for racing enthusiasts across the globe, and we look forward to building on that heritage as we leverage Corsair’s long track record of product innovation and customer experience leadership.”
Fanatec has seen significant growth over the last five years in part due to the growth in on-track racing interest, as the swelling global popularity of motorsports has translated into an increased popularity for Sim Racing. Industry reports estimate the Sim Racing components market at approximately $1 billion, with an expected 20 percent annual growth rate.
Following on Corsair’s recent announcement of entering into this exciting market with its revolutionary Sim Racing chassis, today’s announcement immediately enhances and expands Corsair’s product breadth, uniquely positioning the Company as a leading Sim Racing end-to-end product solution. Corsair existing product lines, such as Gaming PCs, Components to build Gaming PCs, Gaming and Streaming Peripherals, and Monitors are all products that can be used when building a complete Sim Racing Rig.
CORSAIR plans to make significant investments in the Fanatec brand, its products, and increasing worldwide availability through our channels. All current and future Fanatec customers will benefit from the world-class support from CORSAIR, including warranty and software updates going forward.
About CORSAIR
CORSAIR (Nasdaq: CRSR) is a leading global developer and manufacturer of high-performance gear and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best.
