Logitech International (SIX: LOGN) (Nasdaq: LOGI) is to acquire Streamlabs, a San Francisco, California-based provider of software and tools for live streaming, for up to $118m.
The deal amounts to approximately $89 million in cash, with an additional payment of $29 million in Logitech stock subject to the achievement of significant revenue growth targets for Streamlabs.
The acquisition is not expected to materially impact Logitech’s Fiscal Year 2020 annual net sales or non-GAAP operating profitability. It is subject to customary closing conditions and is expected to close in the coming weeks.
Founded in 2014 and led by Ali Moiz, chief executive officer, Streamlabs is a provider of software and tools for live streaming allowing game streamers to engage with viewers, grow their brands and channels, and monetize their broadcasts across platforms like Twitch, YouTube, Mixer and Facebook.
Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech is a multi-brand company designing products that bring people together through music, gaming, video and computing. Brands include Logitech, Logitech G, ASTRO Gaming, Ultimate Ears, Jaybird, and Blue Microphones.
It is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI).