Corsair is about to acquire racing sim company Fanatec

Corsair is in the process of acquiring racing simulator brand Fanatec. In an update shared on Thursday, Corsair said it is in talks with Fanatec to restructure the struggling company’s debt of around €70 million (US$75.4 million) and cover short-term costs.

Fanatec has established itself over the years as one of the most popular brands in racing simulation hardware. The company offers premium racing wheels, pedals and shifters that virtual racing enthusiasts can connect to their consoles or computers while playing games like Gran Turismo 7 and Asset Corsa.

But the company’s reputation has suffered in recent months. Fanatec’s customers have flooded forums with complaints about not receiving their orders on time and poor customer support. Fanatec has also delayed the release of its ClubSport DD+ racing wheelbase due to licensing issues. These issues have driven customers to rival hardware from Symagic and Logitech.

Corsair CEO Andy Paul said in a statement that ‘this transaction will resolve the company’s significant debt and position the company to continue to grow and expand its product portfolio. Regulators in Germany, where Fanatec is headquartered, must approve the deal.

In addition to Corsair in the gaming hardware and peripherals sector, Turtle Beach also acquired gamepad maker PDP in March.