Fanatec acquired by Corsair
- Thread starter PJTierney
- 351 comments
- 61,688 views
Cap'n Jack
Premium
- 10,106
- South of the South
- GoldMineGutted
Might not be useful to you, but I find the lack of backlit wheels (aside from the expensive BMW GT3 wheel and Podium Rally Module) one of Fanatec’s downsides compared to other brands. I like to play in the dark and struggle to see buttons on my wheel, but aside from that you could potentially map colours to individual buttons as an alternative to button caps and stickers.
I’ve been looking at the Leoxz XGT Pro which is compatible with Fanatec’s bases (and is also console compatible) - Fanatec are essentially losing a sale to a competitor despite keeping me within the ecosystem.
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Nightwing24
(Banned)
- 241
- United States
Welp, guess I’m stuck with firmware 457 for my DD+. I have 0 issues it works perfectly for me and I absolutely love it, but was really hoping to have a driver version known to resolve its possible issues.
This isn’t my exact experience with Corsair, but similar and why I don’t use any products they are associated with to not give my personal data away on top of paying top dollar for products:
forum.corsair.com
It’s a no brainer it will be one of the first steps Corsair takes to make Fanatec profitable or generate a additional revenue stream, start selling consumers personal data.
Now more than ever Fanatec is dead. Stolen from its owners and sold to corporate greed.
Edit: while I’m irritated let me add more conjecture: why did the CFO not allow Fanatec to bring in third party customer service companies and logistics companies to help as Jackemier stated they had planned to do to resolve all thier issues months before in several interviews both at sim racing expo as well as around end of 2023/begining 2024 at Fanatec HQ?
Almost as if the CFO with ties to the hedge fund pulling all the stings wanted to tank Fanatec as a brand to ensure bottom stock pricing to steal the value away from its rightful owners.
This isn’t my exact experience with Corsair, but similar and why I don’t use any products they are associated with to not give my personal data away on top of paying top dollar for products:
What is corsair service doing in background?
Hi, There are two processes named: Corsair.Module.CpuIdDevice Corsair.Module.DisplayAdapter that comes with icue software, they are making my games lag, and when idle, makes my fan run at full speed, they consume CPU and RAM. What are they?! Why are they?! Why isn't there any way to disable them?...
It’s a no brainer it will be one of the first steps Corsair takes to make Fanatec profitable or generate a additional revenue stream, start selling consumers personal data.
Now more than ever Fanatec is dead. Stolen from its owners and sold to corporate greed.
Edit: while I’m irritated let me add more conjecture: why did the CFO not allow Fanatec to bring in third party customer service companies and logistics companies to help as Jackemier stated they had planned to do to resolve all thier issues months before in several interviews both at sim racing expo as well as around end of 2023/begining 2024 at Fanatec HQ?
Almost as if the CFO with ties to the hedge fund pulling all the stings wanted to tank Fanatec as a brand to ensure bottom stock pricing to steal the value away from its rightful owners.
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- 1,010
- United States
A bit of internal sabotage is the only thing which makes sense at this point. It should have taken 6 weeks to initially sort the black Friday debacle and about 3 months to really shake it out and be on your feet again. Once it took longer, it began smelling malicious.
Just brutal.
Just brutal.
- 340
- London
- MetalApeRacer
If you think that's tricky, you should try using the Fanatec Formula V2.5 wheel with a VR headset on.
- 302
So does anyone know what happens to the existing orders? I don’t have a wheel (but all other parts sitting around) and also starting to worry about 1200+ EUR of order that I have no status information about.
- 313
- Celina, Texas
- Tex_Hill
They should be filled - eventually. They didn't file bankruptcy nor just close and lock the doors, so the orders should be processed and eventually shipped out. An influx of cash - and hopefully personnel - should actually speed up order fulfillment.
- 332
- Denmark
In Corsair's earnings call yesterday, it was mentioned that they'll launch their own sim racing product line called "Corsair Racing" at Computex next month.
I wonder if they'll simply rename Fanatec, or it's going to be absorbed into the "Corsair Racing" brand. That Corsair is going to have two sim racing brands at the same time sounds unlikely.
I wonder if they'll simply rename Fanatec, or it's going to be absorbed into the "Corsair Racing" brand. That Corsair is going to have two sim racing brands at the same time sounds unlikely.
That would be stupid as Fanatec is a pretty big brand and not just for sim racing hardware. I think they will do something like "Fanatec by Corsair"...
- 5,674
- Codemasters (EA)
- PJTierney
Corsair Gaming, Inc. (NASDAQ:CRSR) Q1 2024 Earnings Call Transcript
Corsair Gaming, Inc. (NASDAQ:CRSR) Q1 2024 Earnings Call Transcript May 7, 2024 Corsair Gaming, Inc. misses on earnings expectations. Reported EPS is $-0.12109 EPS, expectations were $0.13. Corsair Gaming, Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third...
Corsair Gaming, Inc. (NASDAQ:CRSR) Q1 2024 Earnings Call Transcript
Corsair Gaming, Inc. misses on earnings expectations. Reported EPS is $-0.12109 EPS, expectations were $0.13. Corsair Gaming, Inc.
www.insidermonkey.com
Nightwing24
(Banned)
- 241
- United States
Trying to be optimistic in the face of the reality of this… you thought the resell market on Fanatec hardware was good before? Now all of our pre Corsair-Fanatec hardware is going to skyrocket in value in the resell market once Corsair starts cutting cost/quality.
Despite not seeing eye to eye on 50% with Jackemier, my heart still hurts for him and all shareholders that are in the process of being robbed after doing the work turning the company around to profitability right before this occurred. But the world isn’t fair and it’s survival of the fittest not most deserving.
Despite not seeing eye to eye on 50% with Jackemier, my heart still hurts for him and all shareholders that are in the process of being robbed after doing the work turning the company around to profitability right before this occurred. But the world isn’t fair and it’s survival of the fittest not most deserving.
- 101
- Bogotá
- D6uzmanG
Well I believe this video explains a lot of Fanatec's current situation:
I agree and by that video, there definitely appears to be some malice in Fanatec's current situation, if all of the info in the video is true then I hope that the ex-ceo can get back control of his company... because while they have had issues with supply and debt and stuff, the former CEO is still someone who was close with the simracing community whilst the current one is only looking to sell and Corsair would simply milk them for cash/technology and then discard..
I agree and by that video, there definitely appears to be some malice in Fanatec's current situation, if all of the info in the video is true then I hope that the ex-ceo can get back control of his company... because while they have had issues with supply and debt and stuff, the former CEO is still someone who was close with the simracing community whilst the current one is only looking to sell and Corsair would simply milk them for cash/technology and then discard..
- 40
- Germany
IF the StaRUG goes ahead, which seems to be the case with the proposed Corsair offer, then the shares are worth 0 (as all shareholders will get expropriated). Pretty brutal.
I wonder what the current management, ie. The board, CEO, CFO etc, will take home for the "successful" restructuring (essentially receiving some of the shareholders money for the great Job they've been doing...)
Safe to assume palms will have been well and truly greased.
Latest news (from yesterday evening):
https://www.eqs-news.com/news/corpo...tions-with-strategic-investor-corsair/2055077
https://www.eqs-news.com/news/corpo...tions-with-strategic-investor-corsair/2055077
- 2,419
- The failed experiment entitled “California”.
It took them almost one month to get back to me on a request I had to order a load cell for my V3's. They finally reached out to me yesterday and the replacement has been ordered. I've had to replace a couple other various pedal sensors before, and previously it had only taken them a few days to get back to me. Considering their current situation, I honestly feel lucky they even got back to me at all.
But to your point, I don't think there's a reason to wait on ordering product from them. Might take a little longer than normal to get, but that's all.
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Ordered a podium hub (ph)with a qr1 (already received my qr2 a couple of months ago) on March 14th, with an availability date of May 21st which changed to the 27th. The ph actually became available again on the 21st, and it moved over to sent to warehouse which meant I could no longer simply cancel it on-line. Then the qr1 sold out, and my order just sat there. Turned out there was no need to worry, as my order was picked up by FedEx yesterday.
I know people have had problems, especially Black Friday and the 2.5x wheel, but I think Fanatec has mostly got newer orders under control. It might take a little longer, but orders are being received.
330_D
Premium
- 1,101
- Upstate NY
I've ordered a few things - the CSL Cockpit and pedal plates for my CSL pedals. Both were delivered inside a week with zero drama. I figure they are items that are pretty well stocked at all times currently, though and not high demand. I did get a 2.5 Formula wheel around the Christmas holiday when they were on sale and during the beginning of the shipping chaos and it also came within a week. I'm not sure if I'm lucky or just nail the timing but it's been normal business for me with them over the last 6 months.
Latest news: https://www.eqs-news.com/news/adhoc/endor-ag-notifies-restructuring-plan-according-to-starug/2066323
Endor AG notifies restructuring plan according to StaRUG
Landshut, June 3, 2024 – Endor AG has today notified the District Court – Restructuring Court (‘court’) – in Munich of a restructuring project in accordance with the German Act on the Stabilization and Restructuring Framework for Companies (StaRUG).
Following a comprehensive review, the lending banks decided not to support other restructuring offers because they did not consider them suitable for averting the threat of insolvency.
As already communicated, part of the restructuring plan includes a partial waiver by the banks and a complete capital reduction, which would lead to current shareholders leaving the company without compensation and to the Endor AG shares delisting from the Open Market.
Endor will inform the capital markets and the public about the further progress of the process in accordance with legal requirements.
Notifying person:
Matthias Kosch, CFO
Endor AG notifies restructuring plan according to StaRUG
Landshut, June 3, 2024 – Endor AG has today notified the District Court – Restructuring Court (‘court’) – in Munich of a restructuring project in accordance with the German Act on the Stabilization and Restructuring Framework for Companies (StaRUG).
Following a comprehensive review, the lending banks decided not to support other restructuring offers because they did not consider them suitable for averting the threat of insolvency.
As already communicated, part of the restructuring plan includes a partial waiver by the banks and a complete capital reduction, which would lead to current shareholders leaving the company without compensation and to the Endor AG shares delisting from the Open Market.
Endor will inform the capital markets and the public about the further progress of the process in accordance with legal requirements.
Notifying person:
Matthias Kosch, CFO
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