Corsair Gaming Acquires Drop Assets, Bolstering Peripherals Business
Portfolio Pulse from Lekha Gupta
Corsair Gaming Inc (NASDAQ:CRSR) has acquired certain assets from Drop, a company that develops and sells a portfolio of peripherals and enthusiast products. The deal, for an undisclosed amount, is expected to significantly grow the Drop brand worldwide and offer specialized Corsair and Elgato products to the enthusiast community. As of March 31, 2023, Corsair's cash and cash equivalents stood at $182.1 million. CRSR shares are trading lower by 0.78% at $17.61 premarket on the last check Monday.
July 17, 2023 | 1:13 pm
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NEGATIVE IMPACT
Corsair Gaming's acquisition of Drop assets could bolster its peripherals business and expand its product offerings. However, the news has led to a slight decrease in CRSR's premarket share price.
The acquisition of Drop's assets could potentially strengthen Corsair's peripherals business and expand its product range, which could be beneficial for the company in the long run. However, the immediate market reaction to the news has been negative, with CRSR's share price dropping in premarket trading. This suggests that investors may have concerns about the deal, possibly related to the undisclosed acquisition cost or the integration of the new assets.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100