Tritton Technologies is known as a California-based provider of gaming audio headsets as well as computer peripherals and high-performance multimedia consumer electronics. Now interactive entertainment accessory provider Mad Catz has obtained all stocks of Tritton Technologies.
According to the company, the consideration for this acquisition reads as 1 million dollars in cash at closing as well as a subject to a working capital adjustment. It also includes 9 million dollars maximum in cash for the next five years depending on the sales performance of Tritton’s offerings. From sales acquired in North America, the company generated around $8 million in revenue last year.
“The gaming headset category is one of the fastest growing within the gaming sector, and the acquisition of Tritton significantly enhances Mad Catz’ opportunities in this very attractive market segment,” revealed Darren Richardson, President and Chief Executive Officer of Mad Catz.
He further added, “Tritton has developed an attractive portfolio of premium products and a brand that resonates strongly with gaming enthusiasts. Additionally, this acquisition further diversifies Mad Catz’ revenue base and is consistent with our strategy to create shareholder value by leveraging our global capabilities with high-value products that enhance the gaming experience.”
The terms of the agreement also discloses that Mad Catz will engage in an employment agreement with Christopher Von Huben who is Tritton’s founder and Chief Executive Officer as well as a fixed number of the company’s key employees.
Mr. Von Huben said, “We are thrilled to be joining the Mad Catz organization. Tritton has built a successful brand and lineup of gaming audio headsets and computer peripheral products. I am confident that with Mad Catz’ global capabilities we can significantly increase our market penetration and more rapidly grow the Tritton brand.”
The company’s foremost products are noted to be its wide array of quality gaming headsets which sell for a price ranging from $69.99 (approx. Rs.3,295) to $169.99 (approx. Rs.8,000). These products can be paired with computers as well as major gaming platforms and comes complete with loads of additions such as true Dolby Digital surround sound. Tritton also brings to the forefront its line-up of USB video products. Among these offerings is a simple solution for adding multiple displays to PCs and Macs.