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LONDON, UK / ACCESSWIRE / August 15, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Logitech International S.A. (NASDAQ: LOGI), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=LOGI. The Company announced on August 08, 2017, that it has closed the acquisition of ASTRO Gaming, a prominent gaming brand with a history of producing award-winning headsets for professional gamers and enthusiasts. The Company initially entered into the agreement to acquire ASTRO on July 11, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on LOGI; also brushing on SSYS. Go directly to your stock of interest and access today's free coverage at:

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Logitech Enters Console Gaming Market

ASTRO Gaming is a forerunner in the gaming audio and lifestyle products market. It has a concrete leadership position in the premium global console gaming headset market. The Company is popular for its iconic A40 and A50 headsets, which have been specially designed for pro gamers and core enthusiasts. ASTRO's recent launch A10 has further expanded the Company's reach in the console headset market. A10 provides the essence of what makes ASTRO's headsets premium, but comes at a more accessible price point. With the acquisition of ASTRO, Logitech intends to invest in an adjacent gaming market, i.e. the console gaming market, which will help the Company accelerate the long-term growth of its gaming business. ASTRO Gaming will be integrated into the Logitech G division, which is Logitech's PC gaming-focused sub-brand. After the acquisition, Logitech G will continue to focus on PC gaming products, while ASTRO Gaming will cater to the console market.

Ujesh Desai, Vice President and General Manager of Logitech G, stated that ASTRO is a leading player in the premium console headsets market. In fact, it is the preferred headset for console esports athletes. He stated that ASTRO signifies a perfect complement to Logitech G. It will enable Logitech G to focus on PC Gaming. He expressed his excitement about the ASTRO brand and is looking forward to making game playing more fun for gamers everywhere.

This Means More Products for More Gamers

Logitech and ASTRO, together, is the number one maker of headsets, mice, keyboards and streaming webcams for PC and console gamers.

Jordan Reiss, Co-Founder and President of ASTRO, shares how ASTRO has always held Logitech and Logitech G products in the highest regard. He also expressed his pleasure to be joining forces with Logitech. He believes that ASTRO's brand strength combined with Logitech G's unrivaled technology and global distribution network will take their products to more and more gamers around the world.

Financial Details

  • Logitech has purchased ASTRO for a total of $85 million in cash;

  • The Company anticipates that the acquisition will add around two points of growth to its top-line in FY18. However, it also projects it to be slightly dilutive to its bottom-line in the first year, as it integrates the business and invests to expand ASTRO internationally.

About Logitech

Logitech International designs products that connect people to the digital experiences they care about. The Company was founded in 1981 and is headquartered in Lausanne, Switzerland. In the beginning, Logitech started connecting people through computers, and now it has become a multi-brand Company designing a number of products that bring people together through music, gaming, video, and computing. It comprises brands such as Jaybird, Logitech G, and Ultimate Ears.

Last Close Stock Review

At the closing bell, on Monday, August 14, 2017, Logitech Intl.'s stock was marginally up 0.78%, ending the trading session at $35.07. A total volume of 297.44 thousand shares have exchanged hands. The Company's stock price skyrocketed 19.41% in the past six months and 60.87% in the previous twelve months. Moreover, the stock soared 41.58% since the start of the year. The stock is trading at a PE ratio of 26.41 and has a dividend yield of 1.64%. The stock currently has a market cap of $6.09 billion.

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