Mad Catz Acquires Saitek
Mad Catz Acquires Saitek(TM), a Leading Worldwide PC Games Peripheral Provider, for $30 Million
Strategic Diversification Complements Mad Catz' Leadership in Console Game Peripherals and Further Expands International Footprint
Strategic Diversification Complements Mad Catz' Leadership in Console Game Peripherals and Further Expands International Footprint
SAN DIEGO--(BUSINESS WIRE)--Nov. 14, 2007--Mad Catz Interactive, Inc. (AMEX/TSX: MCZ), a leading third-party interactive entertainment accessory provider, announced today that consistent with its strategy to further diversify its products and geographic distribution capabilities, it has entered into a definitive agreement to acquire 100 percent of the shares of the private holding company that owns Saitek's worldwide operations. Saitek is a leading worldwide provider of PC games accessories, PC input devices, multimedia audio products, chess and intelligent games. In particular, Saitek enjoys a leadership position in flight simulation controllers and has established a strong position in keyboards for PC games. In its latest fiscal year ended February 28, 2007, Saitek generated over $43 million of net sales and its gross margins exceeded those generated by Mad Catz in its latest twelve months. Mad Catz expects the acquisition to be accretive to its fiscal 2008 earnings and cash flow ...
