Skip to main content

Closing of acquisition of SteelSeries

Written by Customer Service on . Posted in Public Companies.

On October 6, 2021, GN announced an agreement to acquire SteelSeries – a global pioneer in premium software-enabled gaming gear.

All necessary conditions, including relevant regulatory approvals, have been met and today GN has completed its acquisition of the SteelSeries group.

SteelSeries will be a new growth engine to GN, operating with its own identity, brand and execution strength while benefitting from the industry leading capabilities and track record of GN Audio to drive continuous growth and value creation. The core technology competencies of GN and SteelSeries complement and align very well, and it is anticipated that the combination will produce significant scaling opportunities and revenue synergies when combining SteelSeries with GN’s extensive global distribution footprint. Consequently, annual run-rate operational synergies of around DKK 150 million by end of 2022 are expected.

The transaction represents an enterprise value on a cash and debt free basis of DKK 8.0 billion. The acquisition is funded as 100% cash payment financed through existing cash balance, the EUR 600 million 0.875% coupon Eurobond issuance announced on November 17, 2021, and a bridge loan, which GN expects to replace with other debt instruments.   

The financial guidance for 2022, including SteelSeries, will be communicated in connection with the Annual Report 2021.

For further information, please contact:

Investors and analysts
Henriette Wennicke
Vice President – Investor Relations & Treasury
Tel: +45 45 75 03 33

Or

Rune Sandager
Director – Investor Relations & Treasury 
Tel: +45 45 75 92 57

Press and the media
Lars Otto Andersen-Lange
Head of Media Relations & Corporate Public Affairs
Tel: +45 45 75 02 55

About GN Group
The GN Group enables people to Hear More, Do More and Be More through its intelligent hearing, audio and video collaboration solutions. Inspired by people and driven by our innovation leadership, we leverage technological synergies between our hearing and audio divisions to deliver unique and increasingly individualized user experiences in our products and solutions.

150 years ago, GN was founded with a truly innovative and global mindset. Today, we honor that legacy with world-leading expertise in the human ear, sound and video processing, wireless technology, miniaturization and collaborations with leading technology partners. GN’s solutions are marketed by the brands ReSound, Beltone, Interton, Jabra, BlueParrott, SteelSeries and FalCom in 100 countries. Founded in 1869, the GN Group employs 7,000 people and is listed on Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com – and connect with us on LinkedIn, Facebook and Twitter.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.