Gaming headset and accessory maker Turtle Beach has acquired Neat Microphones, a maker of high-quality digital USB and analog microphones. The San Diego, California-based company did not disclose the terms of the deal. However, it said the acquisition will enable the company's entry into the $2.3 billion global microphone market.
The whole Neat Microphones team, including founders Skipper Wise and Martins Sulespurens, will be joining Turtle Beach as part of the deal. The company will also add nearly 40 Neat patents and nearly 70 Neat trademark registrations to its portfolio.
Founded in 1975, Turtle Beach began making gaming headsets in 2005. It is one of the world's leading gaming accessory providers currently. The company also makes keyboards, mice, headsets, mousepads, and other PC accessories under its ROCCAT brand. It is now looking to further diversify its product portfolio into new categories, microphones, to be precise, with the acquisition of Neat Microphones.
The Neat Microphones' leadership team, which also co-founded Blue Microphones back in 1995 (now owned by Logitech), has plenty of experience in the industry. Turtle Beach hopes this acquisition would enable a fast entry for the company into the rapidly growing global microphone market. With this acquisition, the total addressable market for the company's diversified products expands from $5.1 billion to $7.4 billion.
"We are entering the growing global streaming and microphone market with two significant advantages – the visionary leadership and engineering expertise behind some of the most renowned mics of the past 30-plus years, and Neat's impressive 2021 product lineup," said Juergen Stark, CEO, Turtle Beach Corporation. "Neat is a great fit with Turtle Beach's 45-year legacy of audio innovation and expertise."
Turtle Beach acquires Neat Microphones
Microphones have become a staple technology in 2020, as more and more people started to work from home. This trend will likely continue for the foreseeable future, and Turtle Beach wants to cash in on it.
Neat Microphones' products complement Turtle Beach and ROCCAT's current offerings in console and PC accessories. However, the microphones company will seemingly operate relatively independently under the new ownership.
"The market is ready for a new, high-quality, easy-to-use portfolio of digital microphones," said Skipper Wise, President of Neat Microphones. "In 2021, Neat will launch new, updated versions of some of our most popular analog and digital microphones". Hopefully, the company will also retain its unique design language.
"Neat team changed the way people view, use, and value quality recording tools, and they are set to do it again in 2021 and beyond as part of Turtle Beach," the company said in a press release.