Rumour of Corsair Buyout Is False, But They Are Seeking Major Investment
Peter Donnell / 3 years ago
You might remember a couple of days ago we reported on a story that Corsair were rumoured to be involved in buyout talks with Francisco Partners? This came after Corsair indefinitely postponed an IPO after the relative flop of the Facebook IPO. Corsair said that they would “relaunch [the IPO] when equity conditions are more favorable”.
While CNN may have had an interesting lead on the story of a potential buyout, it seems it was a little bit of deadend and Corsair have been quick to dismiss that they are looking to sell their name to Francisco Partners, or anyone else for that matter.
Corsair is securing investment from Francisco Partners but the deal is not a buyout. Corsair have stated the investment is needed so they can continue acquiring other companies and expand their portfolio (like the deal when they acquired Raptor Gaming and Simple Audio).
For the whole of 2011, Corsair reported around $19 million in net income on $455 million of revenue. It’s Q1 2012 earnings were $3 million on $132 million in revenue.
It did seem like this one came a little out of the blue, but as with many rumours in the world of business, things are easily twisted and it looks like Corsair are here to stay for the foreseeable future, in fact it looks more like they will be expanding in the near future if anything else as they may be looking to acquire new assets into the Corsair family.