Turtle Beach acquires accessories rival PDP
pcgamesinsider.bizHeadset specialist Turtle Beach has bought accessories company PDP for $118 million.
The deal is broken up into $79.9 million in cash, with the remaining $38.1 million being doled out in 3.45 million shares. Turtle Beach reckons that the addition of PDP will result in revenue of between $390 million and $410 million in its first 12 months.
PDP's previous owner, Diversis Captial, is becoming Turtle Beach's largest shareholder.
Turtle Beach has also appointed a new CEO in Cris Keirn. He joined the company back in 2013.
“I’m honored to work with the amazing team at Turtle Beach, now including our new colleagues from PDP, as we continue to deliver fantastic new products for gamers and value to our shareholders,” Keirn said.
“Working with our industry partners, and with the combined expertise of our teams, we will drive a transformational change to the company’s scale and execution with innovation and expansion of our leadership positions across gaming accessory categories.”
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