DGAP-Adhoc

GN Store Nord A/S: GN Store Nord to acquire SteelSeries - a global pioneer in premium software-enabled gaming gear

DGAP-Ad-hoc: GN Store Nord A/S / Key word(s): Acquisition GN Store Nord A/S: GN Store Nord to acquire SteelSeries - a global pioneer in premium software-enabled gaming gear 06-Oct-2021 / 08:27 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. GN Store Nord to acquire SteelSeries - a global pioneer in premium software-enabled gaming gear

- GN - a global leader in intelligent hearing, audio and video systems - has signed an agreement to acquire SteelSeries - a global innovation driven pioneer in premium software-enabled gaming gear. GN is acquiring SteelSeries from the Nordic private equity company Axcel

- Following the expected acquisition, GN gains a very strong position in the attractive upscale gaming gear market and expands its position in the premium audio market

- 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 total purchase price (enterprise value) for SteelSeries amounts to DKK 8.0 billion

- Closing of the transaction is subject to customary regulatory approvals and is anticipated by the beginning of 2022

SteelSeries, with its attractive growth profile and margin structure, presents an attractive new growth opportunity for GN. The acquisition of SteelSeries will bring complementary engineering competencies, commercial capabilities, differentiated brands, a large customer base and an innovative high-growth product offering, adding further technical expertise and IP to GN. SteelSeries will benefit from GN's commercial and operational excellence, and financial strength, allowing SteelSeries to continue its strong growth trajectory and take share in the fast-growing market for premium software-enabled gaming gear.