The difficult economic situation that had been created within Endor, totally investing Fanatecthe company specialized in the production of peripherals for simulations, has finally found a solution through abulk acquisition of the company by Corsair.
The major hardware manufacturing company has acquired Fanatec, effectively completely replacing Endor AG, following the acquisition agreement that provides for the total transfer of ownership also to manage the huge debts that the group managed by CEO Thomas Jackermeier had generated.
“Corsair has acquired the commercial activities of Endor AG in an asset deal. The shares of the foreign subsidiaries will also be transferred”, reads the official press release issued in the last few hours.
Fanatec is safe, at least for now
“Furthermore, Corsair will assume all active employment contracts of Endor AG,” the statement continues, reiterating how the new owner will completely replace the old company.
“Endor AG will be completely liquidated as part of the insolvency proceedings and its stock exchange listing will be discontinued shortly. Shareholders will not receive any payments. The company’s real estate assets remain for sale.”
It’s a pretty drastic and radical move, but it should at least preserve jobs within Fanatec, at least for the time being. With Jackermeier out of the picture, it remains to be seen what the near future holds for Fanatec, which continues to be a major player in the racing simulation space but has accumulated significant debts in recent years, as a result of both management errors and a clear slowdown in market results.
The solution is nothing more than an extreme conclusion of operations that had already been started previously, when Corsair had lent 4 million euros to help fix Endor’s precarious financial situation, without however managing to reach a definitive solution.
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