US-based PC component and gaming technology manufacturer Corsair has announced that it is in advanced negotiations to take over trouble racing game peripheral brand Endor AG, owner of Fanatec.
Fanatec, which makes the officially-licensed Gran Turismo DD Extreme wheel, has been going through a rough patch in recent months. An overselling issue on Black Friday along with numerous supply and logistical disruptions have resulted in significant order backlogs and customer complaints this year.
In a shock move in March, Endor’s supervisory board dismissed Thomas Jackermeier from his role as CEO, citing a condition set by lending banks in extending a “standstill agreement” to pause loans. Shortly thereafter, Endor appointed Andres Ruff as “chief restructuring officer”, before elevating him to CEO.
Since then, Jackermeier himself has reportedly assembled a consortium to bid for Endor, but it appears that Corsair may have beaten him to the punch.
Corsair announced the news in a press release, in which it stated that the two companies had reached an agreement in order to fund Endor in the short term while they seek a solution to restructure the company’s €70 million ($75m) debt. That will bring Endor under Corsair’s control at some time in the future.
Ruff commented: “We are very pleased to have found a strategic investor in Corsair who knows our market well and wants to invest for the long term.”
His counterpart at Corsair, Andy Paul, added “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.”
Alongside keeping the Fanatec brand afloat, the deal would see Corsair add racing wheels and peripherals as well as racing rigs to a product lineup that already includes PC components, keyboards, monitors, and capture cards.
