PC giant Logitech has acquired livestream company Streamlabs.

The hardware firm paid a cool $89m for the media company, with an addition $29m payout on the way if Streamlabs hits the targets set out for it by its new corporate overlords.

"Logitech's acquisition of Streamlabs adds software and tools for live streamers to our already rich gaming offering," said Ujesh Desai (pictured), the VP and GM of Logitech's G games brand.

"Their products complement our existing portfolio and allow us to serve even more game streamers around the world with better experiences."

Steamlabs boss Ali Moiz added: “Streamlabs and Logitech both share a strong passion for gaming and a dedication to serving the global community of gamers and streamers. Joining with Logitech allows us to keep doing what we love and be bolder than ever on a much bigger stage.”

It seems that Logitech is trying to diversify its offering at the moment. This deal follows the company acquiring microphone firm Blue back in August 2018 and Astro Gaming in August the year prior. 

The hardware maker was also in talks to purchase headphone outfit Plantronics but this fell through in November of last year.