Fanatec is a brand specializing in racing simulation equipment, including direct-drive bases, wheels, pedals, shifters and cockpits. Even if the last two years have been complicated with its fans, the brand remains highly appreciated by the simracing community. However, its owner, Endor AG, is in dire financial straits. The company is in debt to the tune of 70 million euros, and seems unable to meet its short-term obligations. Corsair has therefore come in as a white knight to save the company… By buying it, since the American company has taken the opportunity to enter into exclusive negotiations with Endor AG to acquire it.
Corsair in exclusive negotiations to acquire Endor AG / Fanatec
Corsair announced today that it has entered into exclusive negotiations to acquire simulation racing specialist Endor AG, owner of the world-renowned Fanatec brand. Corsair has reached an agreement with Endor to finance its short-term cash requirements, while the two companies are negotiating a restructuring of Endor’s debt of around €70 million, which will ultimately lead to Corsair’s acquisition of 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 Andy Paul, CEO of Corsair. “This transaction would resolve the company’s significant debt and position it for continued growth and expansion of its product portfolio.”
This sentiment is echoed by Endor. “We are very pleased to have found in Corsair a strategic investor 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 racing simulation hardware, including force feedback steering wheels, pedals and complete cockpits for PlayStation, Xbox and PC racing simulators. This acquisition reinforces Corsair’s investment in simulation and means it is uniquely positioned to provide unrivalled racing simulation solutions in the future.
In the space of a few years, Corsair has multiplied its acquisitions: Elgato, SCUF gaming, Origin PC and now Fanatec.
