Logitech, one of the most popular PC accessories manufacturer, has made a big announcement which will please streaming fans around the world. Logitech has agreed to acquire the streaming equipment maker Streamlabs for a whopping sum of $89 million. Now, we know that Logitech already makes gaming equipment under its Logitech G brand name. With the addition of Streamlabs, we will see even more Logitech G products in the market that will take advantage of Streamlabs’ technology.
While we already mentioned above the Logitech G lineup, you should note that this lineup offers everything for gamers ranging from mice, keyboards, cameras, speakers and headphones. The popular live streaming app named Streamlabs OBS is built by Streamlabs which Logitech was already a partner of. So we will see the Logitech G branding on this live streaming app very soon.
In the announcement, Logitech’s Vice President and General Manager, Ujesh Desai said:
We’ve been fans of Streamlabs and their software since we started partnering with them over two years ago. Their industry-leading software is complementary to our existing gaming portfolio, and we believe we can do even greater things together.
It is worth noting that Streamlabs is a free toolkit made for streamers so we don’t know if it will remain free or not as Logitech has not revealed the same. However, Streamable claims that 70% of users streaming on Twitch use Streamlabs which comes down to more than 15 million users. Also, Streamlabs claims that the average income of streamers increase by 30% if they use the site.
Now, it is worth noting that Logitech’s acquisition of Streamlabs is not just limited to $89 million as the company reveals that this is the amount they have paid to acquire Streamlabs just in cash. However, they have also made an additional payment of $29 million in Logitech stocks but that is “subject to the achievement of significant revenue growth targets for Streamlabs.”