Turtle Beach, a well-known brand in the peripherals industry, has recently completed the acquisition of its competitor, PDP, for $118 million. This acquisition includes $79.9 million in cash, with expectations indicating that it will generate revenues of $390 – $410 million over the next 12 months, as reported by GamesIndustry.biz.
Renowned for its extensive lineup of gaming headsets, Turtle Beach’s acquisition of PDP brings together two companies with complementary strengths. While Turtle Beach has a history of producing diverse gaming headsets, PDP has established itself as a dominant player in the licensed controller market, particularly focusing on Nintendo and Xbox peripherals.
Alongside the acquisition, Turtle Beach also introduced its new CEO, Chris Keirn, who has been part of the company for over a decade. Keirn expressed his enthusiasm for the acquisition and the future of the company in a statement, highlighting the collaboration with the talented team at Turtle Beach and the newly integrated PDP team:
“I’m honored to work with the amazing team at Turtle Beach, now including our new colleagues from PDP, as we continue to deliver fantastic new products for gamers and value to our shareholders. Working with our industry partners, and with the combined expertise of our teams, we will drive a transformational change to the company’s scale and execution with innovation and expansion of our leadership positions across gaming accessory categories.”
The addition of PDP’s product range significantly enhances Turtle Beach’s offerings. PDP is renowned for its vibrant and themed controllers, often featuring eye-catching RGB lights. Their product lineup spans from affordable headsets to high-end controllers priced at $179, competing closely with the Xbox Elite series.
