Turtle Beach acquires accessories rival PDP

Turtle Beach acquires accessories rival PDP

Headset specialist Turtle Beach has bought accessories company PDP for $118 million.

The deal is broken up into $79.9 million in cash, with the remaining $38.1 million being doled out in 3.45 million shares. Turtle Beach reckons that the addition of PDP will result in revenue of between $390 million and $410 million in its first 12 months.

PDP's previous owner, Diversis Captial, is becoming Turtle Beach's largest shareholder.

Turtle Beach has also appointed a new CEO in Cris Keirn. He joined the company back in 2013.

“I’m honored to work with the amazing team at Turtle Beach, now including our new colleagues from PDP, as we continue to deliver fantastic new products for gamers and value to our shareholders,” Keirn said.

“Working with our industry partners, and with the combined expertise of our teams, we will drive a transformational change to the company’s scale and execution with innovation and expansion of our leadership positions across gaming accessory categories.”

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Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.