Computer hardware and peripherals company Corsair Gaming (NasdaqGS: CRSR) announced that it has acquired esports coaching platform Gamer Sensei and published its first earnings report following the company’s initial public offering (IPO) raising roughly $119M USD in September. Financial details of the acquisition were not disclosed.
Gamer Sensei, which was founded in 2016, will become a subsidiary brand within Corsair, joining live-streaming equipment manufacturer Elgato, custom gaming controller maker SCUF Gaming, and custom gaming PC builder ORIGIN PC. The coaching platform previously raised $6.3M in two financing rounds in 2016 and 2017.
In Corsair’s first quarterly earnings report following its IPO, the company revealed a 60.7% year-over-year increase in Q3 net revenues to $457M. Its gaming components and systems segment increased by 38.3% year-over-year and accounted for 64.7% or $296M of total revenues, while its gamer and creator peripherals segment increased by 128.8% year-over-year to $162M.
In total, Corsair ended the third quarter of 2020 with a net profit of $36.36M, up 2394% from $1.52M in the same period of last year. In a release, Corsair’s Chief Financial Officer Michael Potter said that the company used $86.6M of the approximately $118.6M net proceeds raised in its IPO to repay outstanding debt and the company plans to further reduce its debt.