Add SteelSeries to the ranks of gaming hardware brands selling to bigger tech companies. Jabra owner GN acquires SteelSeries in a deal worth around $ 1.24 billion. The move aims to give GN an edge in the “premium play equipment” space while providing room to grow and achieve “revenue synergies”. The agreement is expected to be finalized in early 2022.
SteelSeries stressed that it would retain the same leadership. The deal with GN would help “accelerate” already healthy growth, according to company chief Ehtisham Rabbani. GN strongly pointed out that SteelSeries has gained market share in recent years and has itself acquired smaller companies like KontrolFreek.
The purchase could help GN make a concerted push into gaming, both in headsets and non-audio hardware like mice, keyboards and mouse pads. Put simply, it could help GN become a mainstream tech brand after years of focusing on personal audio.
SteelSeries, meanwhile, might not have had as many choices as he would like. Brands like Astro, Elgato and Roccat have already sold to larger companies to both ensure their survival and to promote their growth. While the future of SteelSeries was likely to be bright without GN, the team could help it thrive in a competitive landscape where rivals often have a lot of support.