Gaming company Turtle Beach is “exploring a sales process”

|
, , , , , ,

The gaming industry has been a massive success over the past 10-years. The number of people gaming in some way has grown year over year. One of the industry’s big names in gaming hardware is “exploring a sales process.” Turtle Beach has been making solid gaming hardware for years, and we’ve always enjoyed its offerings. Check out our reviews!

Estimated reading time: 2 minutes

In a letter to shareholders, the company said it has engaged with potential buyers on three separate occasions in the last five years and that it hired Bank of America (BAC.N) last year to spearhead the process.

“Based on that outreach, we signed 10 (non disclosure agreements) and held 9 management meetings,” the letter said.

The company said in its letter there is no guarantee that discussions will lead to a transaction.

The company has been engaging in ongoing discussions with at least two strategic buyers, two sources familiar with the matter said on Thursday. The company has also received calls from financial buyers who might be interested in making an acquisition, the sources said.

In the letter, which was released a day after the company reported quarterly earnings, the company said some potential buyers had previously told the company they were breaking off discussions because Turtle Beach “had too much reliance on console gaming headsets and the cyclicality that comes with that.”

Reuters

What do you think of Turtle Beach possibly selling its business? Do you use Turtle Beach products? Please share your thoughts on any of the social media pages listed below. You can also comment on our MeWe page by joining the MeWe social network.

HOW TO: Change system date in OS X ...
HOW TO: Change system date in OS X from Terminal

Last Updated on May 8, 2022.

Previous

Agriculture company AGCO Corp hit by ransomware attack affecting some production facilities

10 ways to lower your cable and streaming TV bills

Next

Latest Articles

Share via
Copy link
Powered by Social Snap