Razer will acquire Controller Gear

Gaming equipment maker Razer has announced that it intends to acquire the Controller Gear-branded console accessories from its parent company Marketing Instinct. Controller Gear, which was created in 2014, specializes in making licensed peripherals and merchandise for popular console brands including Xbox, PlayStation and Nintendo.

As part of the acquisition, Controller Gear co-founder and senior vice president John Buller will join Raser as director of product development alongside Controller Gear's current employees. Razer said it expects to increase its revenue through the acquisition of Controller Gear.

In addition, Razer announced that it expects to achieve a break-even profit or loss based on generally accepted accounting principles for the year ended December 31, 2020, compared to a loss of $ 83.5 million during 2019. This result was driven by stronger-than-expected revenue growth, which Razer expects to be at least 40% year-on-year.