LAUSANNE, Switzerland & NEWARK, Calif.--(BUSINESS WIRE)--Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it has agreed to acquire Streamlabs of San Francisco, California. Streamlabs is a leader in 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.
Ujesh Desai, general manager and vice president of Logitech G, commented: "We've been fans of Streamlabs and their software since we started partnering with them over two years ago. Their industry-leading software is complementary to our existing gaming portfolio, and we believe we can do even greater things together."
Ali Moiz, Streamlabs' chief executive officer, said: "Streamlabs and Logitech both share a strong passion for gaming and a dedication to serving the global community of gamers and streamers. Joining with Logitech allows us to keep doing what we love and be bolder than ever on a much bigger stage."
Logitech has agreed to acquire Streamlabs for 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.
Expected Impact on Financial Results for Fiscal Year 2020
The Streamlabs 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.