Logitech Buys Saitek's Sim Controller Business For $13m
Saitek, the makers of a great many switch-covered peripherals for controlling planes, trains, and and automobiles, have been sold for $13 million (about £10 million) in cash. Saitek was owned by fellow controller company Mad Catz, who bought them in 2007, but now they march under the banner of peripheral giants Logitech. (I recommend Saitek's Pro Flight™ Rudder Pedals for marching simulators - the differential braking really sells the footfeel.)
Logitech pick up the Saitek brand and their lines of flight, farming, and space controllers, along with equipment and data that went into making them. Eight Saitek research & development folks have joined Logitech too.
Mad Catz are keeping the keyboards, mice, and other bits that they put out after picking up Saitek, mind. It's always awkward, that post-breakup division of possessions. Neither Mad Catz nor Logitech have publicly declared who got the crockery, the TV, the fondue pot that was technically given as a Christmas present to both of them, nor the half-dead peace lily in the kitchen.
What does this mean for people who dig Saitek hardware? Forecasts may vary depending on how much you liked Mad Catz and how much faith you have in Logitech.
"The Saitek product line complements our market-leading portfolio of Logitech G gaming products," Logitech said in their announcement, ". . . and expands our leadership position at a very exciting time for gaming."
Nnno. That's not businessy enough for me. It's Friday morning, I want some hardcore mega-business before the weekend. Come on, Mad Catz, hit me with your best shot:
"Our Board and management team are highly focused on enhancing shareholder value and we believe this transaction is consistent with our ongoing efforts, enabling us to improve our financial position and working capital to better support and grow our Mad Catz and Tritton video game accessories and headset brands. As we continue to evolve our business strategy to operate the Company more strategically while leveraging resources more efficiently, we are confident that the sale of the Saitek brand and product line, along with the other previously-disclosed Company-wide initiatives, will result in improved financial performance and shareholder value."
That's the stuff! Evolve that business strategy. Leverage those resources more efficiently. Meet me for a drink about seven?