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ASTRO Gaming joins Logitech G and we are ready to play!

Discussion in 'ASTRO Nexus' started by ASTRO Thadeous, Jul 11, 2017.

  1. ASTRO Thadeous

    ASTRO Thadeous Director of Community Staff Member

    Hey ASTRO Family,

    the news is out! ASTRO Gaming will be joining the Logitech as part of their gaming team. We have always been dedicated to designing products that solve the unique issues faced by gamers while delivering the highest possible quality at every level, as demonstrated by our brand new A10 Headset. ASTRO Gaming will continue to offer our full product line, and remain here in the heart of San Francisco CA. We are excited to join our new friends and family at the Logitech G team as we have long admired their excellence in engineering, quality, and performance.

    I've added the full press release from Logitech to help answer any questions you may have.

    Cheers!


    NEWARK, Calif. & LAUSANNE, Switzerland--(BUSINESS WIRE)--Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that it has agreed to acquire ASTRO Gaming, a leading console gaming brand with a history of producing award-winning headsets for professional gamers and enthusiasts. Logitech and ASTRO, together, is the number one maker of headsets, mice, keyboards and streaming webcams for PC and console gamers.

    "ASTRO is the leading player for premium console headsets and is the preferred headset for console esports athletes," said Ujesh Desai, vice president and general manager of Logitech G. "It's a perfect complement to Logitech G's focus on PC gaming and we couldn't be more excited; we love the team, the brand and the products. Together, we want to make game play even more fun for gamers everywhere."

    Jordan Reiss, co-founder and president of ASTRO, added, “The whole team at ASTRO has always held Logitech and Logitech G products in the highest regard, so I’m ecstatic we are joining forces. ASTRO’s brand strength combined with Logitech G's unrivaled technology and global distribution network is going to bring our products to even more gamers around the world.”

    ASTRO, is a pioneer in gaming audio and lifestyle products and has a strong leadership position in the premium end of the global console gaming headset market. ASTRO is best known for its iconic A40 and A50 headsets designed for pro gamers and core enthusiasts. ASTRO’s recently introduced A10 expands the company’s reach in the console headset market, offering the essence of what makes their headsets premium, but at a more broadly accessible price point.

    Expected impact on financial results for Fiscal Year 2018

    Logitech will purchase ASTRO for $85 million in cash, and the acquisition is expected to close in early August. With the addition of ASTRO, we’re investing in an adjacent gaming market — the console gaming market — to help accelerate the long-term growth of our gaming business. In FY 2018, we expect the acquisition of ASTRO to add approximately two points of growth to the top line, and to be slightly dilutive to the bottom line in the first year, as we integrate the business and invest to expand ASTRO internationally.

    About Logitech

    Logitech designs products that have an everyday place in people's lives, connecting them to the digital experiences they care about. More than 35 years ago, Logitech started connecting people through computers, and now it’s a multi-brand company designing products that bring people together through music, gaming, video and computing. Brands of Logitech include Jaybird,Logitech G and Ultimate Ears. Founded in 1981, and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech at www.logitech.com, the company blog or @Logitech.

    About Logitech G

    Logitech G, a brand of Logitech International, is the global leader in PC gaming gear. Logitech G is dedicated to providing gamers of all levels with industry leading keyboards, mice, headsets, mousepads and simulation products such as wheels and flight sticks - made possible through innovative design, advanced technologies and a deep passion for gaming. Founded in 1981 and headquartered in Lausanne, Switzerland, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech G at www.LogitechG.com, the company blogor @LogitechG.

    This press release contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements regarding: sales, distribution, and market penetration of Logitech G and ASTRO gaming products; the purchase price, closing and timing of the closing of the ASTRO acquisition; long-term growth and the pace of growth of Logitech’s gaming business; and the expected impact on Logitech’s financial results for fiscal year 2018. The forward-looking statements in this release involve risks and uncertainties that could cause Logitech's actual results and events to differ materially from those anticipated in these forward-looking statements, including, without limitation: if our product offerings, marketing activities and investment prioritization decisions do not result in the sales, profitability or profitability growth we expect, or when we expect it; the demand of our customers and our consumers for our products and our ability to accurately forecast it; if we fail to innovate and develop new products in a timely and cost-effective manner for our new and existing product categories; if we do not successfully execute on our growth opportunities or our growth opportunities are more limited than we expect; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if our products and marketing strategies fail to separate our products from competitors’ products; if we do not fully realize our goals to lower our costs and improve our operating leverage; if there is a deterioration of business and economic conditions in one or more of our sales regions or operating segments, or significant fluctuations in exchange rates; the effect of changes to our effective income tax rates. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in Logitech's periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2017, available at www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements to reflect new information or events or circumstances occurring after the date of this press release.

    2017 Logitech, Logicool, Logi and other Logitech marks are owned by Logitech and may be registered. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company’s website at www.logitech.com.
  2. Shadelon

    Shadelon ASTRO Private

    How is this going to effect the durability and overall quality of future astro products? This has me worried. A lot of the time when one company gets acquired by another their quality and everything suffer for it.
    Metalix and A50 SW Battlefront like this.
  3. A50 SW Battlefront

    A50 SW Battlefront ASTRO Private

    Obviously Logitech will bring a great deal of financial support to the table (RD, etc), but thinking of the poor design, sound and quality of Logitech's flagship headsets, I am not really looking forward to this merger. I guess it will take until 2018 before we see any result of this partnership, but maybe we should better get a few "original" Astros before it's too late! :)
  4. Cyberlocc

    Cyberlocc ASTRO Private

    Agreed, sad to see this, I found out due to the fact they pulled a bunch of tags off the site, as well as the ability to create custom tags :(.

    Seeing how much Logitech junk I have had in the past, this is not a good thing for customers.

    Time to stock up on a few headsets and Mix Amps, before its too late :(.
  5. Cyberlocc

    Cyberlocc ASTRO Private

    Cant Edit my post :(.

    Anyway googling this i found they were owned by skullcandy, who i guess also just got bought. Sad day it is, Skull Candys stocks probably fell due to them making good products, unlike logitech.

    Being owned by logitech, is certain death for astro :(.
  6. juneclb2

    juneclb2 ASTRO Private

    I am not really looking forward to this merger.

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