Gaming hardware maker Logitech (LOGI) reportedly plans to acquire Streamlabs, the creator of a set of tools and software that allow live streamers to engage with viewers, monetize their broadcasts and grow their channels.
According to the announcement, the acquisition offer was made for $89 million with an additional $29 million available to Streamlabs as long as they hit undisclosed revenue milestones.
“Streamlabs and Logitech both share a strong passion for gaming and a dedication to serving the global community of gamers and streamers,” Streamlabs CEO Ali Moiz said. “Joining with Logitech allows us to keep doing what we love and be bolder than ever on a much bigger stage.”
Ujesh Desai, general manager and vice president of Logitech G, added: “We’ve been fans of Streamlabs and their software since we started partnering with them over two years ago. Their industry-leading software is complementary to our existing gaming portfolio, and we believe we can do even greater things together.”
According to Streamlabs, the company currently supports more than 15 million streamers across various platforms and 70% of Twitch streamers.