Corsair has entered into negotiations to acquire Endor AG, the owners of the sim racing specialist Fanatec. The proposed deal will provide a welcome cash injection into Endor AG, which has been struggling under the weight of a €70 million debt.
Should the deal come to fruition, it will mark a major play by Corsair into the world of sim racing. Fanatec has a loyal following, and it's one of the premier brands in the sim racing market, with a range of mid-to high-end direct drive bases, wheels, pedals, shifters and cockpits.
In recent years, Fanatec products have faced increased competition from cheaper direct drive alternatives from companies such as Moza. Mainstream brands such as Thrustmaster and Logitech – both major players in the sim racing scene since it began in the mid-1990s – are also betting big on the growth of sim racing and have expanded their ranges with affordable direct drive bases and high quality swappable wheels, so this move by Corsair isn't entirely surprising as a peripheral manufacturer.
“Fanatec is an incredible brand with a strong community, and we believe Corsair is the ideal home for Fanatec’s loyal customers, employees and business partners,” said Corsair CEO, Andy Paul. “This transaction would solve the company’s significant debt load and position the company for growth and continued product portfolio expansion.”
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Fanatec 's financial woes left it a prime takeover candidate. It was in the midst of a corporate and financial restructuring prior to the Corsair announcement. Just a few weeks ago, its founder and CEO Thomas Jackermeier was removed from his post after 25 years at the helm, though he remains with the company in a reduced role, and is now focussed on product design and development. Product delays and long shipment lead times heaped more pressure on the company. Hopefully Fanatec can now benefit from Corsair’s finely tuned logistics and service expertise.
This news has been (mostly) warmly welcomed by the crowd over at r/simracing, with months of complaints about slow order delivery and agonizing warranty and repair experiences hopefully now in the rear view mirror.
Sim racers are among the most enthusiastic of all gamers, often spending thousands of dollars on equipment on top of thousands more on PCs and monitors. A proper cockpit setup takes up a lot of space too. The latter is part of the reason I never graduated beyond driving with a controller. Blasphemy! Sim racing is something I've always been interested in, and I definitely agree with Andy's sentiments on the joys he gets from sim racing.
