GN Group acquires SteelSeries for $ 1.2 billion

Why is it important: GN Group, which has a portfolio of audio, noise reduction and hearing loss solutions from Jabra, BlueParrott and Beltone, recently added SteelSeries to its stable range of audio and peripherals. SteelSeries provides headsets, keyboards and other peripherals for a variety of PC and console gaming platforms. The $ 1.2 billion acquisition of SteelSeries and its product line reinforces GN’s commitment to the PC and gaming console markets.

SteelSeries, a longtime supplier of gaming peripherals including the Arctis headset and Apex keyboard lines, was recently acquired by a hearing aid and audio solutions provider. GN group… GN, which owns several brands of audio and hearing aids, including Jabra and Beltone, bought the company from a private investment company for 8 billion Danish kroner (DKK), or 1.2 billion United States dollars (USD). The acquisition is expected to be completed by 2022, pending mandatory regulatory approvals.

SteelSeries CEO Ehtisham Rabbani expressed optimism after the acquisition, stating that “our mission is to continually push the boundaries in esports and gaming … and now, with GN’s support, we can accelerate those efforts.” GN CEO Rene Svendsen-Thun was equally positive after the acquisition and said SteelSeries would continue to operate under the same name and brand.

Since 2001, SteelSeries and their products that integrate under SteelSeries GG ecosystems of software, have provided support from peripherals to tournaments and sponsorships for the PC and console gaming communities. The acquisition gives GN a clear path to enter the competitive gaming and esports market. The purchase also gives GN access to KontrolFreek and Nakhimich, both of which were acquired by SteelSeries in 2020.

The GN Group is no stranger to audio innovation; The company’s past and current efforts span from the world’s first 2.4 GHz technology in hearing aids to the world’s first active noise canceling professional headphones. Despite the emphasis on audio technology and solutions, it is unlikely that SteelSeries will ditch other peripheral product lines such as game controllers, keyboards and mice. Both companies stated that SteelSeries’ operations and development will continue under the company’s current leadership.

GN initially looked at the growth and presence of SteelSeries in the gaming and esports communities and expressed a desire to focus on expanding software controls for SteelSeries and other gaming equipment. These software controls, which can provide customization of everything from hardware lighting to input behavior, empower users to create highly personalized and optimized gaming experiences.

Image Credit: SteelSeries Products by SteelSeries; user with headphones Reinier Karl

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