The world-famous accessory company Turtle Beach have announced they have acquired peripheral company PDP for $118 million.
Diversis Capital, the previous owners of PDP, will receive $79.9 million in cash and the remainder in shares wich makes the private equity firm Turtle Beach’s largest shareholders. In addition, Diversis Capital’s senior operating partner David Muscatel will join the Board.
Chris Kiern, the new CEO of Turtle Beach, said in a press release:
“I’m honored to work with the amazing team at Turtle Beach, now including our new colleagues from PDP, as we continue to deliver fantastic new products for gamers and value to our shareholders.”
“Working with our industry partners, and with the combined expertise of our teams, we will drive a transformational change to the company’s scale and execution with innovation and expansion of our leadership positions across gaming accessory categories.”
This isn’t the first time Turtle Beach have acquired another company as back in 2019 they purchased ROCCAT for $19 million.
Those interested in seeing all of Turtle Beach’s products can do so on their official website.
