GN Group acquires SteelSeries for $ 1.2 billion

Why is this important: The GN Group, whose portfolio includes audio, noise cancellation and hearing loss solutions from Jabra, BlueParrott and Beltone, recently added SteelSeries to its line of audio and peripheral products. SteelSeries provides headsets, keyboards, and other peripherals across multiple PC and console gaming platforms. The $ 1.2 billion acquisition of SteelSeries and its product line reinforces GN’s desire to enter the PC and console gaming market.

SteelSeries, the long-time supplier of gaming peripherals, including the Arctis headset lines and Apex keyboards, was recently acquired by hearing and audio solutions provider The GN Group. GN, which owns several brands of audio and hearing aids, including Jabra and Beltone, bought the company from a private equity firm for DKK 8 billion (DKK), or US $ 1.2 billion ( USD). The acquisition is expected to be finalized by 2022 pending mandatory regulatory approvals.

SteelSeries CEO Ehtisham Rabbani expressed his optimism over the acquisition, stating that “we are on a mission to continually push the boundaries of esports and gaming… and now, with the support of GN, we can turbocharge those efforts. ”GN CEO René Svendsen-Tune was equally positive about the acquisition and said SteelSeries will continue to operate under the same identity and brand.

Since 2001, SteelSeries and their products, which are part of the SteelSeries GG software ecosystem, have provided support ranging from peripherals to tournaments and sponsorships for the PC and console gaming communities. The acquisition now provides GN with a clear path to enter the competitive gaming and esports market. The purchase also grants GN access to KontrolFreek and Nahimic, 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 include achievements ranging from the first to use 2.4 GHz technology in hearing aids to creating the world’s first professional active noise canceling headphones. Despite this emphasis on audio technologies and solutions, SteelSeries is unlikely to abandon other lines of peripheral products such as game controllers, keyboards and mice. Both companies have stated that the operations and development of SteelSeries will continue under the current leadership of the company.

GN first noted 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 hardware. These software controls, which can be used to customize everything from hardware lighting to input behavior, provide users with the ability to create a highly personalized and optimized gaming experience.

Image credit: SteelSeries products by SteelSeries; user with headphones by Reynier Carl


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