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Logitech acquires simulator brand Saitek from Mad Catz

Mad Catz sold it for less than half what they paid.

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Logitech and Mad Catz have reached an agreement for the sale of the Saitek line of simulation peripherals. The deal came to $13 million US dollars in cash, says a press release. This movement leaves the Swiss company in a great position against one of its major competitors in the peripheral business.

The Saitek brand provides accessories for flight, space and driving simulators, but not traditional wheels, something that Logitech already has covered. Saitek also makes equipment for farming games, compatible with the Farming Simulator IP on PC, as you can see on their website.

This is another bad move for Mad Catz, who acquired Saitek in 2007 for $30 million US dollars, more than double the selling price. During the last fiscal year, the Canadian company posted a loss of $11.6 millions US dollars mainly to the failure of Rock Band 4, laying off 37 per cent of the staff. After that negative investment, its involvement in the music game passed to another competitor, PDP. In a statement President and CEO Karen McGinnis admitted that they are trying to improve their financial position and working capital.

"After a thorough and deliberate process, we believe this sale to Logitech brings Mad Catz attractive and certain value for the flight, space and farm simulation line of Saitek products. We are pleased to find a company like Logitech that will lead Saitek into its next phase of growth and best support its strong acceptance within the flight simulation community while also allowing us to continue to leverage the world-class mice, keyboards and other products that were originally developed on the back of our acquisition of Saitek in 2007 and are now sold under the Mad Catz brand."

What are your thoughts on this acquisition?

Logitech acquires simulator brand Saitek from Mad Catz
Logitech acquires simulator brand Saitek from Mad Catz


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