Diversis Capital Facilitates Sale of Performance Designed Products to Turtle Beach Corporation
In a significant development for the gaming accessories industry, Diversis Capital has announced the successful sale of Performance Designed Products (PDP) to gaming accessories brand Turtle Beach Corporation (Nasdaq: HEAR). This transaction marks a milestone for both companies and highlights Diversis Capital’s commitment to driving value within its portfolio.
During its tenure with Diversis Capital, PDP experienced significant growth and innovation. Notably, PDP was re-established as a leading third-party manufacturer of video game peripherals, launching its first XBOX and PlayStation wireless controllers and expanding from mostly casual gamers to the professional gaming market. Over just three years, PDP had a remarkable 60% increase in U.S. retail controller sales across all platforms.
Performance Designed Products has earned acclaim for its innovative gaming peripherals, including controllers, headsets, and charging systems. Under Diversis Capital’s guidance, PDP expanded its product range, strengthened partnerships with leading video game and console manufacturers, and solidified its position as a market leader.
Turtle Beach Corporation is renowned for its gaming headsets and audio accessories; by acquiring PDP, Turtle Beach diversifies its product offerings and strengthens its presence in the controller market.
Key Details:
- Strategic Fit: The acquisition aligns with Turtle Beach’s strategic goals, leveraging PDP’s expertise to enhance its competitive edge.
- Market Impact: Gamers can anticipate an expanded range of innovative accessories, enhancing their gaming experiences through the combined resources of Turtle Beach and PDP.
- Continued Growth: Diversis Capital’s successful navigation of the transaction highlights its ability to identify value-creating opportunities for portfolio companies. This strategic sale signifies the dedication of the entire PDP team.
As PDP enters this new phase under Turtle Beach Corporation, the gaming community can expect exciting advancements in gaming accessories. Diversis Capital’s strategic sale of PDP demonstrates its commitment to driving growth in the dynamic gaming industry.