GN closes its acquisition of SteelSeries
Back in October last year, GN announced that it had reached an agreement to acquire gaming gear specialist SteelSeries. All necessary conditions and relevant regulatory approvals have now been met and SteelSeries is officially a part of GN.
GN says that SteelSeries will be a new growth engine to the company, operating with its own identity, brand and execution strength while benefitting from the capabilities and track record of GN Audio to drive continuous growth.
The core technology competencies of GN and SteelSeries complement and align well, and it is anticipated that the combination will produce significant scaling opportunities and revenue synergies when combining SteelSeries with GN’s global distribution footprint. Consequently, annual run-rate operational synergies of around DKK 150 million (EUR 20.15 million) by end of 2022 are expected.
The transaction represents an enterprise value on a cash and debt free basis of DKK 8.0 billion (EUR 1.07 billion).