CORSAIR takes over the business of Endor AG (Fanatec)

CORSAIR takes over the business of Endor AG (Fanatec)

After the opening of insolvency proceedings for Endor AG was announced this morning (13/09/2024 09:00) (‘Insolvenzbekanntmachungen’ – search term ENDOR*), things happened very quickly over the course of the day. The manufacturer of computer accessories and gaming products Corsair is taking over the business of Endor AG and thus also Fanatec, currently probably the largest and best-known sim racing brand.

Announcement of the takeover

Late Friday evening (21:22), an ad hoc announcement was published by Dr Hubert Ampferl (insolvency administrator), Andres Ruff (CEO/CRO) and Matthias Kosch (CFO) (EQS News). The following points were announced:

• On 13 September 2024, the Landshut Insolvency Court opened insolvency proceedings for the assets of Endor AG (WKN 549166 / ISIN: DE0005491666) under file number IN 542/24.
• The business operations of Endor AG were taken over by Corsair as part of an asset deal.
• Corsair will also receive the shares in the foreign subsidiaries.
• All remaining employment contracts of Endor AG will be transferred to Corsair.
• Endor AG will be completely wound up as part of the insolvency proceedings and its stock market listing will be cancelled shortly.
• Shareholders may expect to receive no payouts.
• The company property in Landshut is still for sale.
• Translated with www.DeepL.com/Translator (free version)

Corsair

When you hear the name Corsait, you think first and foremost of computer peripherals and gaming RAM. What few people realise: In addition to products under its own name, Corsair also sells products from the acquired manufacturers Elgato (streaming equipment) and Scuf Gaming (controllers).

Simracing hardware has now apparently been chosen as the latest field of activity. The first plans by Corsair to take over or invest in the struggling sim racing manufacturer Fanatec have already been announced in recent months (Endor AG press release). In line with this, the company’s first own rig was recently presented. At this year’s Gamescom you could already try it out with Fanatec hardware installed. Pictures of the event can be found here:

What will change for Fanatec customers?

For existing Fanatec owners and potential future customers, the most important questions are probably the following:

• Will warranty claims continue to be handled normally?
• Will there still be software updates?
• Will the goods purchased now continue to be delivered as normal?
• What role will Corsair play in the future?

There are no concrete answers to these questions yet (as of 13/09/2024). However, it can be assumed that Fanatec’s business operations for end customers will continue as before. If Corsair pursues the same concept around Fanatec as is already the case with Elagto and Scuf Gaming, the Fanatec name will in all likelihood remain.

Update: Statement Fanatec / Corsair

In the meantime, the most important questions from the community have been answered in an email from Corsair CEO Andy Paul to Fanatec customers:

What does this mean for Customer Service/Speed of Delivery?

We know the some of the community are not happy about the current state of Customer Service. I get this – I hear you; we are committed to improving this, we want you to have the support you need should something go wrong. We run a global support and logistics operation, and we will be integrating Fanatec into this, giving you better service and more transparency.

What does this mean for my warranty?

CORSAIR will honour all existing Fanatec warranties. Customers should still reach out to the Fanatec team directly for support via their Fanatec accounts. Our priority is to ensure prompt resolution of warranty issues during this transition of ownership and of course provide continuous improvement of customer support.

What does this mean for Software Updates?

We are used to running a company that has both software and hardware elements – CORSAIR, Elgato, and SCUF all have these needs. We also know that people don’t always get it right. That’s where we will be stepping in and making things better. It won’t be perfect straight away, but I am committed to ensuring we improve this over time.

What does this mean for Fanatec going forward?

Overall, Fanatec joining the CORSAIR family means that CORSAIR’s expertise and resources will enhance the Fanatec product lineup and make significant improvements to the logistics and customer service. Global availability of Fanatec products will also expand through CORSAIR’s extensive channels. As I have said, Fanatec and its customers will benefit from CORSAIR’s world-class support, including warranty and software updates.