Corsair acquires Endor AG’s business and assets alongside the Fanatec brand
Corsair are now the proud owner of Fanatec, making it a leading racing brand
Endor AG has just been taken over by Corsair, which has acquired the company’s business operations and subsidiaries. This makes Corsair the proud owner of the Fanatec racing brand. Fanatec specialises in sim racing equipment, including direct drive bases, wheels, pedals, shifters, and cockpits. The company is well-loved by the sim racing community, making the brand a great pickup for Corsair as it expands further into this market.
At Gamescom, Corsair’s racing division made its debut, showcasing its new racing cockpits with Fanatec accessories. Now, Fanatec products can be considered Corsair products, as the company is now an official part of Corsair.
Endor AG has been facing financial issues. Earlier this year, we reported that the company was €70 million in debt, with Corsair helping Endor AG with its “short-term cash needs” while it restructured. At this time, Corsair was in exclusive negotiations with Endor AG to acquire the company.
On September 13th, insolvency proceedings started for Endor AG. When this started, Corsair acquired Endor AG’s business operations and confirmed that they would take over all active employment contracts. This means that the jobs within Fanatec and Endor AG are safe, at least for now. Notably, Corsair has not acquired Enfor AG’s real estate.
Endor AG’s business is taken over by CORSAIR
Landshut, September 13, 2024 – Insolvency proceedings were initiated for Endor AG (WKN 549166 / ISIN: DE0005491666) by a decision of the Landshut insolvency court on September 13, 2024 under the file number IN 542/24. Lawyer Dr Hubert Ampferl, a partner at the law firm Dr Beck & Partner, was appointed as the insolvency administrator. CORSAIR (Nasdaq: CRSR) has acquired the business operations of Endor AG as part of an asset deal. The shares in the foreign subsidiaries will also be transferred. Additionally, CORSAIR will take over all active employment contracts of Endor AG. Endor AG will be fully liquidated as part of the insolvency proceedings and its stock market listing will be terminated shortly. Shareholders should expect not to receive any payments. The company’s real estate remains up for sale.
Corsair now owns Fanatec
It is unknown what the future holds for Fanatec. While Endor AG’s financial issues were ongoing, Fanatec was still developing and releasing new products. We expect things to largely continue as normal for Fanatec under Corsair, with them working closely with Corsair’s recently formed racing division.
Corsair currently owns many gaming and PC peripheral brands, including Elgato, Origin PC, SCUF Gaming, and Drop. Fanatec will soon be integrated into Corsair, and we are very interested in seeing how their addition will change Corsair.
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