Monday, December 14th 2020
SteelSeries Acquires Controller Accessory Leader KontrolFreek
SteelSeries, the leader in gaming peripherals, today announces its acquisition of KontrolFreek, the industry leader in high-performance controller accessories. This acquisition bolsters SteelSeries' already strong presence in the console gaming market, and further equips it for success in the next generation of consoles. This is SteelSeries' second major acquisition this year, after purchasing A-Volute, creators of Nahimic and the leading independent developer of 3D sound solutions for gaming, in April.
For nearly two decades, SteelSeries has been a frontrunner in the gaming industry, offering high-quality gaming peripherals to pro and enthusiast gamers across PC and console. Its SteelSeries Engine software platform has millions of daily users and is integrated with popular games and applications. Over the years, the company has built a strong brand and has leveraged this to outpace category growth globally. The award-winning Arctis line of gaming headsets redefined the category and is the new standard of excellence in gaming audio hardware. KontrolFreek is the creator of globally-renowned Performance Gaming Gear, including Performance Thumbsticks, Precision Rings, Performance Grips, Gaming Cables, and other high-quality products for PlayStation, Xbox, Nintendo Switch and PC. KontrolFreek's controller accessories give gamers solutions that increase precision, accuracy and response time, regardless of platform.
KontrolFreek's expertise in controller accessories aligns perfectly with SteelSeries' envisaged future products for console gamers, and PC and mobile gamers that use controllers. Acquiring the talented KontrolFreek team will accelerate SteelSeries' vision for its controller and accessory business. Additionally, KontrolFreek's community of more than 4 million gamers, FreekNation, is a testament to the popularity and quality of their current product lines.
"With the next-generation consoles at the forefront of the gaming industry's mind, there's never been a better time to maximize our ability to provide the best gaming experiences and products to console gamers," said Ehtisham Rabbani, CEO of SteelSeries. "With KontrolFreek's expertise and global popularity, we know they'll open new opportunities to entertain, delight, and assist new gamers across the world."
"This is a huge milestone for KontrolFreek," said Ashish Mistry, CEO of KontrolFreek. "After more than 10 years of building our own brand and products, and as we continue on our mission to enhance gaming globally, it made perfect sense to join forces with SteelSeries to take both brands to the next level."
"With the acquisition of KontrolFreek SteelSeries is strengthening its position in the console gaming market which was a key value creation initiative at our entry into the business. We look forward to realizing the synergies and further developing the KontrolFreek brand," said Lars Cordt, Partner in Axcel the controlling shareholder of SteelSeries.
KontrolFreek is a private company being acquired by SteelSeries ApS. The parties have agreed not to disclose any financial terms. For more information about SteelSeries, visit SteelSeries.com.
For nearly two decades, SteelSeries has been a frontrunner in the gaming industry, offering high-quality gaming peripherals to pro and enthusiast gamers across PC and console. Its SteelSeries Engine software platform has millions of daily users and is integrated with popular games and applications. Over the years, the company has built a strong brand and has leveraged this to outpace category growth globally. The award-winning Arctis line of gaming headsets redefined the category and is the new standard of excellence in gaming audio hardware. KontrolFreek is the creator of globally-renowned Performance Gaming Gear, including Performance Thumbsticks, Precision Rings, Performance Grips, Gaming Cables, and other high-quality products for PlayStation, Xbox, Nintendo Switch and PC. KontrolFreek's controller accessories give gamers solutions that increase precision, accuracy and response time, regardless of platform.
"With the next-generation consoles at the forefront of the gaming industry's mind, there's never been a better time to maximize our ability to provide the best gaming experiences and products to console gamers," said Ehtisham Rabbani, CEO of SteelSeries. "With KontrolFreek's expertise and global popularity, we know they'll open new opportunities to entertain, delight, and assist new gamers across the world."
"This is a huge milestone for KontrolFreek," said Ashish Mistry, CEO of KontrolFreek. "After more than 10 years of building our own brand and products, and as we continue on our mission to enhance gaming globally, it made perfect sense to join forces with SteelSeries to take both brands to the next level."
"With the acquisition of KontrolFreek SteelSeries is strengthening its position in the console gaming market which was a key value creation initiative at our entry into the business. We look forward to realizing the synergies and further developing the KontrolFreek brand," said Lars Cordt, Partner in Axcel the controlling shareholder of SteelSeries.
KontrolFreek is a private company being acquired by SteelSeries ApS. The parties have agreed not to disclose any financial terms. For more information about SteelSeries, visit SteelSeries.com.
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