San Diego - Mad Catz Interactive, a manufacturer of video game accessories, announced on Wednesday that it will acquire Saitek, a U.K.-based maker of PC games accessories and other products, for about $30 million.

Saitek's product lines include PC games accessories, PC input devices, multimedia audio products, and chess and intelligent games; the company reported $43 million in net sales for its latest fiscal year, ended Feb. 28.

San Diego-based Mad Catz, which distributes its accessories under its Mad Catz, GameShark and Joytech brands, said the deal will expand its product line to include PC peripherals and electronic games.

"Just two months after our acquisition of the assets of Joytech, joining forces with Saitek is another example of how we are executing on our strategic plan to grow our business accretively, with the mission of increasing shareholder value by leveraging our core competencies in the design, development, manufacturing, marketing and distribution of interactive entertainment accessories and products," said Mad Catz president and CEO Darren Richardson.

Related Links:
http://www.saitek.com/uk/info/pr_news5.htm

http://www.madcatz.com

http://www.saitek.com