Rancho Bernardo-based gaming peripheral maker Turtle Beach Corp. said March 14 that it agreed to acquire Roccat, a German maker of PC gaming accessories, for $14.8 million in cash, plus an additional $1 million in cash or stock at the buyer’s discretion. Roccat can earn as much as $3.4 million more if it meets certain business goals. The deal is expected to close in the second quarter.
Separately on March 14, Turtle Beach (Nasdaq: HEAR) announced it almost doubled its revenue for the year. The maker of gaming headsets reported net income for 2018 of $39.2 million on revenue of $287.4 million. That compares with a net loss of $3.2 million on revenue of $149.1 million in 2017.
In the fourth quarter, Turtle Beach reported net income of $24.6 million on revenue of $111.3 million. In the same quarter of 2017, the business recorded net income of $14.2 million on revenue of $79.7 million.