San Diego
– Mad Catz Interactive, a maker of video game accessories, announced on Tuesday
that it has acquired Tritton Technologies, the maker of a line of gaming audio
headsets, in a deal worth up to $9 million over five years.
The exact terms
call for a $1 million cash payment at closing, and a maximum of $9 million in
cash over the next five years, subject to the sales performance of Tritton’s
products.
Vista, Calif.-based Tritton, whose gaming headsets retail for between
$69 and $169, saw sales of $8 million in 2009.
"Tritton has developed an
attractive portfolio of premium products and a brand that resonates strongly with
gaming enthusiasts," said Mad Catz president and CEO Darren Richardson.
"Additionally, this acquisition further diversifies Mad Catz’ revenue base
and is consistent with our strategy to create shareholder value by leveraging
our global capabilities with high-value products that enhance the gaming
experience."
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