CORSAIR officially acquires Endor AG, parent company of Fanatec, one of the most popular brands in sim racing hardware. Following months of corporate upheaval and the initiation of insolvency proceedings, the US-based hardware giant has completed an asset deal, taking over the entire business operations of Endor AG. This includes the transfer of foreign subsidiaries and the assumption of all active employee contracts.
The complete press release is available here for your review.
End of an Era for Endor AG Amid Insolvency Proceedings
The acquisition comes after Endor AG’s insolvency proceedings were initiated by the Landshut insolvency court (file number IN 542/24). As a result, the German company will be fully liquidated, with its stock market listing set to be terminated. Shareholders have been warned not to expect any financial compensation from the liquidation process.
Dr. Hubert Ampferl, a partner at Dr. Beck & Partner, has been appointed as the insolvency administrator. Despite the acquisition, Endor AG’s real estate assets remain up for sale as part of the liquidation.
Fanatec’s New Home Under CORSAIR’s Global Brand
The acquisition of Fanatec is a major move for CORSAIR, strengthening its position in the gaming peripherals market. Fanatec, widely regarded for its sim racing products, will now operate under the umbrella of the US hardware leader. CORSAIR had already secured several of Endor’s intellectual properties earlier this year as collateral and recently showcased its own sim racing rig at Gamescom 2024, equipped with Fanatec gear.
Corporate Drama and the Fall of Endor AG
The downfall of Endor AG has been marked by a series of dramatic corporate events, including the dismissal of Thomas Jackermeier, founder of both Endor and Fanatec, as CEO. Jackermeier had attempted to organize an Extraordinary General Meeting to oust the company’s management board, but the meeting was postponed in August, leaving the company’s fate in limbo until the official acquisition by CORSAIR.
Impact on Shareholders and Employees
While the acquisition secures the future for Endor’s employees, it offers little hope for shareholders, who are expected to receive no payments following the liquidation. CORSAIR’s decision to take over all active employment contracts, however, provides stability for the workforce during this transition.
CORSAIR Expands into Sim Racing with Fanatec Acquisition
This acquisition significantly enhances CORSAIR’s portfolio in the gaming sector, particularly in the growing sim racing market. Fanatec’s renowned sim racing gear is now fully integrated into CORSAIR’s offerings, solidifying its leadership in high-end gaming hardware.
The acquisition marks the end of a tumultuous chapter for Endor AG, while CORSAIR continues to expand its influence in both the sim racing and gaming peripheral markets.
Happy Racing!
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