Wednesday, November 14, 2007
Mad Catz Acquires Saitek
San Diego-based Mad Catz Interactive, a manufacturer of gaming peripherals, said today that it has acquired Saitek, a fellow manufacturer of PC gaming accessories, multimedia audio products, and other electronics. Mad Catz said it would pay $30M for Saitek, which it said had $43M in net sales for the last 12 months. The deal is split between $15.5M in cash plus $14.5M in convertible notes. Saitek has 120 employees, who Mad Catz said it expects to join the firm. Saitek was based in the UK, with U.S. offices in Torrance.