Corsair Acquires Majority Ownership in Taiwan-based Electronics Designer and Display Specialist iDisplay

Rhea-AI Summary

Corsair Gaming, Inc. (NASDAQ: CRSR) has acquired a 51% stake in iDisplay Technology, a leader in display technology based in Taiwan. This acquisition, announced on January 5, 2022, enhances Corsair's integration of display and touch-screen technologies into its products for gamers and content creators. iDisplay, established in 1998, is known for its innovative small-form-factor displays and holds a substantial patent portfolio. This strategic move aims to leverage synergies from their existing partnership, especially in developing industry-leading products like the Elgato Stream Deck.

Positive

• Acquisition of 51% stake in iDisplay Technology boosts Corsair's display technology capabilities.
• Strengthens Corsair's existing partnership with iDisplay, enhancing product offerings for gamers and content creators.
• Expected synergies from integrating iDisplay's innovations into Corsair's product line can drive future revenue growth.

Negative

• None.

FREMONT, Calif., Jan. 05, 2022 (GLOBE NEWSWIRE) -- Corsair Gaming, Inc. (NASDAQ: CRSR) (“Corsair”), a leading global provider and innovator of high-performance gear for gamers and content creators, today announced that it acquired a 51% stake in iDisplay Technology (“iDisplay”), a leader in electronic development and design specializing in display technology.

Taiwan-based iDisplay, founded in 1998, is a developer of consumer electronics, smart home controls, and streaming consoles, with high-profile clients throughout the technology industry. Its expertise has earned iDisplay a reputation as an innovator of small-form-factor displays, and it has developed a broad patent portfolio supporting its technology.

Corsair, through its Elgato subsidiary, partnered with iDisplay in 2015 to develop the Stream Deck studio control platform. Through their long-term partnership, Corsair, Elgato and iDisplay have collaborated in the development and design of a number of key products. The Elgato Stream Deck range of products and the recently launched CORSAIR ELITE LCD series of all-in-one liquid coolers have benefited from Corsair’s collaboration with iDisplay, integrating stunning displays and multi-function capabilities into user’s PC and desktop setups.

“We’re delighted to welcome our long-standing partner iDisplay to Corsair as we continue to integrate display-based with touch-screen technologies into our feature-rich products for creators, gamers and streamers,” said Thi La, President and Chief Operating Officer of Corsair. “Creators, streamers and gamers benefit from the combination of the display and touch-screen innovation of iDisplay and the industrial design and user-first product development of Corsair.”

KPMG served as legal advisor to iDisplay on this transaction. Corsair’s legal advisor was Lee and Li and its due diligence advisor was Alvarez & Marsal.

About Corsair
Corsair (NASDAQ:CRSR) is a leading global developer and manufacturer of high-performance gear and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals, to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best.

Corsair also sells gear under our Elgato brand, which provides premium studio equipment and accessories for content creators, SCUF Gaming brand, which builds custom-designed controllers for competitive gamers, and ORIGIN PC brand, a builder of custom gaming and workstation desktop PCs and laptops.

About iDisplay

iDisplay is an industry-leader in electronic product design and development, founded in 1998 and headquartered in New Taipei City, Taiwan. It specializes in the research, development and manufacture of small and medium-sized display related products.

Corsair Investor Relations Contact:

Ronald van Veen
ir@corsair.com
510-578-1407

Corsair Media Contact:

Adrian Bedggood
adrian.bedggood@corsair.com
510-657-8747
+44-7989-258827

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe462a92-0c58-4e9e-86e2-348c8aba8591

FAQ

What is the purpose of Corsair's acquisition of iDisplay?

The acquisition aims to enhance Corsair's display technology and integrate innovative features into its products for gamers and content creators.

How much of a stake did Corsair acquire in iDisplay?

Corsair acquired a 51% stake in iDisplay Technology.

When was the acquisition of iDisplay announced?

The acquisition was announced on January 5, 2022.

What impact will the acquisition have on Corsair's product offerings?

The acquisition is expected to enhance Corsair's product offerings by integrating advanced display and touch-screen technologies.

Who were the legal advisors for the acquisition transaction?

KPMG served as legal advisor to iDisplay, while Lee and Li advised Corsair.