Mad Catz Completes Saitek Purchase

Posted: Nov 21 2007, 10:02am CST | by , Updated: Aug 11 2010, 4:58am CDT, in News | Other Stuff

 

Mad Catz Completes Saitek Purchase
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Mad Catz announced today that it has completed its acquisition of Saitek, the well-known PC gaming peripheral manufacturer. Mad Catz had previously announced it intended to buy Saitek for $30 million USD.

That acquisition has now been completed and Mad Catz says it expects the acquisition to be accretive to its fiscal 2008 earnings. The $30 million purchase was made with $15.5 million in cash on hand and $14.5 million in convertible notes.

These notes have a 7.5% interest rate payable at maturity and are convertible into shares of Mad Catz interactive at $1.42 per share, which is a 15% premium over what shares of company stock are trading for now.

Via Mad Catz

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The Author

<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Tech and Car expert Shane McGlaun (Google) reports about what's new in these two sectors. His extensive experience in testing cars, computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
Shane can be contacted directly at shane@i4u.com.

 

 

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