Corsair has confirmed rumours by announcing a new owner, with EagleTree Capital - formerly known as Wasserstein Partners - picking up a majority share in the peripherals and components maker.
Founded in 1994 as Corsair Microsystems by Andy Paul, Don Leiberman, and John Beekley, Corsair made a name or itself with add-on cache memory modules known as cache on a stick or COAST. Intel's move to integrate Level 2 (L2) cache onto the microprocessor itself with the P6 microarchitecture - launched just one year after Corsair's founding in the Pentium Pro - gave the company cause to pivot into RAM modules for the server market and then extend to enthusiast customers with a range of high-performance and aesthetically pleasing parts. In the years since, Corsair - now Corsair Components - has used its income from the DRAM business to extend its reach in the lucrative gaming market, launching power supplies, cases, cooling hardware, and more recently keyboards, mice, and other peripherals.
Now, though, Corsair is under new ownership with the news that EagleTree Capital has picked up a majority share in the company from former owner Francisco Partners in exchange for £403 million in cash.
'We are excited about the opportunity to partner with EagleTree and leverage the team's consumer products expertise to further accelerate our progress,' claimed Andy Paul, co-founder and chief executive at Corsair, of the deal. 'We are very fortunate to have attracted such experienced investment partners. EagleTree's backing will allow us to continue to focus first and foremost on our loyal and passionate customers, and accelerate our investment in innovation and new technology and products to enhance the quality experience that enthusiasts and gamers have come to expect from us.'
'This is a transformative time in the PC gaming industry. A rapidly growing global gamer population, together with the rise of eSports and streaming, has made PC gaming one of the world's most dynamic industries,' added George Majoros, Jr., EagleTree's co-managing partner, of his company's decision to invest. 'Corsair is the undisputed leader in PC gaming hardware and has built a strong brand on a foundation of quality, innovation and an unwavering commitment to its passionate fans. We look forward to working with Andy and Corsair's talented management team to maintain the company's focus on innovative products, to expand into new markets, and to pursue selective transactions.'
Corsair has indicated that business continues as normal, while the deal itself is not expected to close until later this year following the usual regulatory approvals.
September 18 2020 | 18:30