Fanatec SOLD to Corsair?
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- Опубликовано: 8 май 2024
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Игры
Whats your take?
I forgot to add the I think the marketing in F1 and SRO is not a mistake and actually was a boon for Fanatec's visibility.
edit: read this
twitter.com/ReneSellmann/status/1788523732933210129
Well it depends at which price it was done. They obviously spent too much to try to grow too quickly, and this may have been part of that.
If banks are also taking a loss, this means that the assets Endor has are not enough to cover the debt. Their evaluation could be wrong and we may think that the brand is worth more, but this is what the deal says. And if the banks are willing to accept the deal it means they also don't think the assets are enough to pay their debt, otherwise they would force liquidation to get paid. Creditors have priority versus shareholders, so regardless of how harsh it may seem to Thomas or any other shareholder, they have no way to get anything out. I'm sure Thomas did over the years though, so let's not pretend he didn't. Thomas only option is to come up with a better deal, but going by his latest letter, he wants the Banks to extend the loans and thay ship has sailed. The deal itself doesn't look bad. They could have found a much worse buyers from the consumer perspective.
Simple analogy for to understand why the shareholders get zero. You asked for money to buy a 1 million house and you already paid half. Now you can't pay the remainder and the house is only worth 200k. The bank will sell the house for 200k and put you out in the street with zero compensation. Is it fair? I don't know, but you knew the rules when you asked the money.
Asetek has provin pc companies can and SHOULD BE in sim-racing.
Bonus for sim-racers, the software is gonna drastically improve.
I'm looking forward in going to a local electronics store to pick up fanatec gear.
Same
Finally! And the price will drop as moza r5 and r9 bundles is right aside that csl bundle in the future on those shelfs
The challenge lies in the fact that the major shareholders were part of the board. With over 70 million in debt, it's evident that significant changes are necessary. While it's regrettable for them to lose their investment, the current low valuation of the company means that their loss is comparatively less than the amount required to reinvest in the company.
@gavinguy148 corsair got fanatec for a bargain and they have the right people, muscles and money to bring fanatec to good again
@@snippidippi the only reason i dont buy moza is bcs i also play on ps5, if they add support its gg
Fanatec might actually have customer support now??!!!
Can’t get any worse surely
😂😂😂
Not really Corsair isn’t much better lol.
Exactly what I thought lol
@@SIMRIG412 Corsair must be doing something right as they’re not bankrupt and don’t have a horrendous reputation like fanatec.
Corsair? So they'll cost €100 more and get a load of aRGB on them, but there will be some Customer Support now.
sounds fair enough to me
Yes €100 more but u can get it in your country or without import tax/duties because of only shipping method is from germany lol.
Don't forget the iCue integration!
It would be great to be able to purchase Fanatec in the UK direct sometime in the future 😁
You can buy from them now just take 2 weeks
Fanatec has distribution in Australia and has actually been pretty good. Have ordered several times and had fast turnaround on delivery.
Corsair may actually be a good thing to happen even if their product is much more expensive, at least they will have much better availability in many regions and local support also. Software support may get better too ( more ppl to fix bugs etc).
Clubsport mclaren wheel please!
Yeahhh
I don't personally own Corsair products anymore but it could be a lot worse if it was bought by another. If it is sold to Corsair, it actually gives me hope for the brand. I hope it is worked out soon. I'm looking for a G25 upgrade and wish they would refresh the Clubsport and CSL wheels, and then the shifters and handbrake - they are long overdue for an update.
Hope this means this opens their market to more countries. The only option for an affordable dd in my country is Moza. The fanatec sold here are crazy expensive and can get as expensive as simagic due to export fees that are not absorbed by the resellers.
That’s crazy. Here it’s the complete opposite, fanatec can be picked up cheap while Moza is 100-200euro over msrp.
@@Ssamaki69 same here, Moza is not even on the market officially
@@Ssamaki69same in aus its like 150$ more to get r5 bundle than csl dd, not even including shipping.
Kinda feel bad for Thomas tbh Fanatec was his baby and was founded on his own love of Sim racing from what I understood I personally would be sick to my stomach in his shoes he wasn't prepared to become the biggest company in Sim racing not ready for that sort of demand hopefully whoever ends up buying Fanatec keeps Thomas around
If Corsair takes over, they need to keep the spirit and backwards, compatebility of the ecosystem, which is the strong point of fanatec. Buy a wheel base, buy pedals, upgrade wheels, upgrade wheel bases, etc etc. I like my fanatec csl dd really much. But I like it more that my investment is still modern in a couple of years by just upgrading the base or a new clubsport pedal set.
Never wanted anything to do with Fanatec, although I did have a set of V3 pedals I bought used years ago. They worked well enough, for the time I had them.
With Corsair being a larger company, do you think they could scale up fanatecs production and have a more mainstream budget product
i would say they won't be able in short period. But it 100% would be able to in upcomming years. I think they got some fixing to do first with the terrible services and all warehouse issues at fanatec.
I hope quality and pricing stay the same
100% agree with your final sentiments and I hate soap operas. I don't use Fanatec equipment but they appear to produce great products and it would be good to see this situation resolved for the good of the employees and customers.
Very well done. I like how you report objectively on the matter whithout making it all about yourself like „that other dude who did the interview“. 😉
thanks
Shots fired!
@@testthepest6259 Not my first shots. 😂 Kireth knows very well what I think of him, I don’t shoot people in the back.
Absolutely agree, Kireth is a total snake. He seems to love the smell of his own shit, appears very self indulged and speaks as if he's some sort of authority. Smells like a lawyer, talks like a lawyer and looks like one too, never to be trusted. Backstabbing MF.
Are you going to release a video on this?
Corsair's supply chain and support are leagues beyond what Fantec can provide. Economics of scale mean we may actually see these products in more stores, with less insane shipping. I can see corsair consolidating shipments for online order, something Fanatec refuses to do. Order 6 things, get 6 tracking numbers? What is this - 2005?
Microcenter is a hell of a idea and there would be more product in the used market to I can open the facebook and see moza every where thrustmaster and logitec but Fanatec is like tumble weeds
I'm so happy the community is actually super positive about this. Also corsairs ceo spoke out and was talking about being happy to be in the sim racing community and how they wanted to make it good for exisisting customers existing employees and more. They were just super positive and seem to just want to take fanatec even further then it is.
What is even better is we will probably see fanatec bases and things at llaces like sim motion etc. Also you are correct about the conpany and I hate kireths take he thinks he was right this entire time yet hes been wronng about everything and people tried saying nobody had interest in fanatec haha. Also look at asetek they came in and took over I expect the same from corsair.
Fanatecs name and products will not be leaving guys so dont worry. They used words of exsisting alot lol
well see
I wonder how much Fanatec will suffer tho. Will they continue being title sponsor for GT because that is a big marketing thing?
Gonna switch to Moza once I decide to go DD.
As long as Fanatec still have support for their product, I'm fine. I just don't want to end up with an unusable piece of hardware
lol you already have that owning fanatec
@@SIMRIG412 your comment is unnecessary.
@@SIMRIG412 I definatly do, mt dd is bricked for 4 months now.. no responce from suppport
Thank you for not BLOATING your channel with Fanatec news like other certain youtubers.
I am glad you compared Fanatec to Apple, because I have been for almost 3 years now. And I 100% hate Apple! And, unfortunately, I have grown to not like Fanatec and, especially after everything going on, would not touch any product from them at this time.
My 2 cents or pennies, depending on where you are:
Shareholders are bottom of the (in)solvency hierarchy, they know this when they buy stock. It's tough but it's how it is.
That said there's a 6 million € market cap as I write this so still plenty to go around. I'm pretty sure no one would be making videos or shedding a tear for them if the market had gone the other way for the stock.
Contrary to popular belief, stock performance is not equal to company performance. Market cap is usually only a part of the total balance sheet of a company. Many companies operate strongly financially whilst going through market turmoil and while their stocks are bearish. More to the point, debt is the engine of the economy. Without debt there is no money market renewal and therefore...well, to put it simply: debt is good.
Regardless of what the doomsayers shout out of their plynths Fanatec is alive and well: it sponsors a few motorsporting events, they've got IPs, they've got stock, they've got presence and they've got market cap.
On a less theoretical point: I am pretty sure Corsair are going to get a massive bargain bin deal with this purchase and hopefully what this means for us Fanatec users is that we're finally going to finally get proper logistics behind the brand. Corsair are literally everywhere and they've got a truly global presence and I'm sure they won't be investing to then shut the brand down. At the end of the day we consumers end up winning.
I’m just hoping I can order my DD+ this Friday and have it shipped relatively quickly then later on when I want my new pedals for it to be the same. I’m starting to see posts on r/Fanatec that people are only waiting at most 2 weeks while there’s also still people waiting on Black Friday orders. When I got my DD Pro I only waited 5 days. That was at the beginning of the pandemic
I think if if they get acquired this actually might be a better outcome don't know but they did a good job with Elgato though happy to see what they come out next❤
Remember Force India and Lawrence Stroll. Now Aston Martin F1 Racing.
Lmfao your opinion about what’s going on at the end is exactly how I feel about every thing 😂
if I dont survive, tell my wife... hello
I hope Fanatec grows as a result of this but uneasy times ahead.
I feel bad for Thomas however, he had a great business and products and should never have let the company get to this state in the first place!
Bad investment again?
I couldn’t believe Thomas thought he could come back and save the company when it was under his watch that things went so bad. There was a terrible air of arrogance at fanatec in my opinion and can only hope things get better now. If not while it will be sad to see fanatec go, it’s not the end of the world as lots of other companies nowadays.
If anything happens to fanatec it will effect all of sim racing heavily, they are the reason we have affordable dd wheelbases, there helping keep the sim racing community alive, with there innovation. Thomas is passionate about sim racing n he deserves another chance at this company, now its just some people who are gonna cheapen the brand n make it much worst n toy like most likely.
I hope they give the wheels a world wide distribution now, bring it to Brazil, please, it will be the only affordable opiton we are gona have here. They are gonna take over the whole market.
With the sale to corsair, the Fanatec equipment will be now sold in stores
Missed point of one of major supplier of parts to Fanatec, that voiced wish to get out in case of such hostile sellout that leaves shareholders in cold. That sounds to me potentially much more stock shortage issues then just playstation compatibility ships for just small share of their DD wheelbases.
Holy headphone hair batman!
Ordered my CSL DD package 3 weeks ago, no updates and not shipped yet. Then I read people are still waiting for their Blackfriday orders, CEO was let go and they are bankrupt…. Should’ve went with Moza 😢
Should've gone Simagic
Moza is twice the fucking price
@@user-bp9oj5ly1k depends on where you live. but base prices of Moza stuff are pretty competitive, just like Fanatec or Simagic or some other brands
@@TheBombDiggity69420 Just their cheapest wheelbase is more expensive than the whole csl dd bundle. If simagic had a 500$ bundle sure I'd get one.
Got mine within two weeks. No issues.
6:10 I mean it does but the moeny and missed customers... Imiagne going to amazon or Walmart to pick up the latest wheel? Like Game's Workshop which is notorus for believing it's a botque gaming brand sells on amazon so why not fantic which is kinda mid range now?
Welp guess ill be seeing Fanatec at Microcenter 15 minutes from my house ill be buying some to accompany my Moza setup then ill have a banging pc rig and a PlayStation rig to
This looks like the story of Steve Jobbs!
FedEx is delivering 2 of my Fanatec wheels today. McLaren and v2 x. Coincifidence? I think not
All those guys keep complaining about customers service that you have it now, and from now on no more high end developed product coming out from Fanatec
if its sold to Corsair I think its positive, would just like for Thomas to continue to still have authority in the company. But best case scenerio imo is just Fanatec to continue has it always was but with more support, haven't had any problems with them on my 6 products of them through the years.
Is it still safe to order? I want to buy the McLaren wheel set but of course the complications
i’ve ordered a couple times and have had my products in 4 days everytime
What would happen to the warranty. I have a DD2 which has a 5 year warranty. Would it continue under Corsair flag?
Yes. Unless lawyers squirm it buy that would have reputational damage.
great can i get an rma now?
Wow the turn of events will actually improve hopefully for fanatec.
Fanatec will no longer exist once this completes - it is being entirely dissolved. Fanatec transfers to become a Corsair brand (or more technically a brand owned by Corsair's owners - a private equity fund).
@@Daz555Dazwhere did you get that information?
The downside... the shareholders issue. That's not right.
The upside... the customer support and maybe worldwide distribution. Let's see how this goes and hope all parts (customers, shareholders and the brand) benefit from this move.
Also in LATAM, basically the only brand here is Logitech.
They may try to bring Fanatec to the region as well.
I doubt that. Even if they do, they'll probably cost more than if you import them like we have to do nowadays. The prices will go up, knowing Corsair, and the quality will go down (don't forget about the stupid RGB).
I feel yeah just to much drama,poleriztion and toxicity on the modern internet... Like my GT7 wheel broke the plastic collar sheared off and it took fanatic a few weeks to get me an email back... I just want my wheel fixed so I want the drama to lead to fanaftic reurning to top form and outside of it's mess it's in.
if Corsair is pulling this type of deal things must be pretty bad for Fanatec & chances of a rescue deal from a bank are slim!
I just want a pdf Manuel of my dd+ Jeeze
I can ask my neighbor Manuel da Silva Gonzalez to give you a call....hehehe
Man I was just about to order a DD+ this Friday 😢 now I’m not sure if I should. I’m on PS5 so I’m limited with options and something like Logitech has terrible ecosystem.
Ermz made a pretty good video on the whole confusion. I recommend watching it for those interested in it.
If I were a shareholder I would've sold as soon as I heard about this stuff. How are people not bailing as fast as possible?
Thrustmaster could do with a shake up, they've let there guard down with lack of developing new stuff particularly for Console. Still waiting for DD for PS5 and and newer better pedal set up ..
Hi I live in poland and right now I'm deciding what DD i want to buy (I am new to sim racing) I am thinking about CSL DD or Moza r5 which is 70$ more expensive for me . What should i buy
AS a Chinese I can tell you that Simagic better than moza,not only the hardware but also the sofaware
Ah f…. I wanted to order DD+ should I still do it?
Ahh do it, it's a good rig
Glad I went Moza
More of the last 30 seconds, that is what people want to hear.
the good news is, the brand have the power to go to unsupported countries now.
Holy shit i saw people in the comments saying Corsair or Logitech should buy it and BOOM
Damn I just put in a order worth 2000 usd last month🤦🏽♂️🤦🏽♂️
Can Corsair play nicely with Sony though? Fanatec is the amazing PlayStation solution. That may be in jeopardy.
Wish them luck but I have not seen where one company buying another results in making a better product. I can't think of where it has happened in the last 20 years.
Fanatec forgot the #1 Business Priority the customer!!
Corsair aren't my favourite company (have had several products from them that instantly broke or had issues, including a DOA AIO pump which turns out to have been a common issue for years with no redesign to fix it, and they love their proprietary connectors etc. as much as Fanatec) but this is probably one of the best outcomes we could have had, really.
Who knows how it'll turn out exactly, but at least the company has a chance, and isn't being consolidated into another simracing company (reducing competition). I was half expecting Logitech to buy Fanatec and give up on their own DD wheel line, since they seem to have given up on it already anyway, lol, but it's probably better that both companies will be competing instead.
Hopefully this means the Fanatec products and drivers will continue to be supported and customer service and shipping will improve. I hope it also means Fanatec stuff is easier and quicker to buy from more stores, instead of keeping it all direct from their own website/warehouse, but who knows if Corsair plan to change that or not. Main worry is whether they continue to provide and expand products for each part of the market, but hopefully Corsair are looking at Asetek and understand that there's money to be made by having a range of products from fairly high-end flagship stuff down to less expensive (but still very good) products. I wonder if the Bentley wheel will ever come out now, but I wondered that before all this happened as well, haha.
If the stock holders have to walk away with "nothing", I don't think this buy out will happen. Even if Fanatec were to go bankrupt, the sale of assets would happen and the stock holders would get "something", not much, but more than the deal with Corsair.
So, Fanatec goes Fantech now I guess.
Except Fantech doesn't suffer from mismanagement Fanatec does.
If Fanatec had tuned down the amount of products on their site . Fanatec customers are not going to buy every product they have. They have too much stock and no one to buy means dead stock and no money coming in.
Good recap. I do not have a high opinion of Fanatec and their products.
From my own experience and talking with other people who've owned their wheels. They are certainly a very German company and they at least had some personality. I'll just leave it at that.
There is no way Corsair would pay millions of dollars if they didn't think Fanatec is worth much more. So to tell share holders and those who built the company from scratch "too bad you get nothing" is criminal.
I agree I mean turnover of over €100m per year previously and projected and by the sound of it Corsair get the whole lot for less than €70m which is insane.
Only fear people can have from this is end to top tier fanatec products. Corsair will most likely focus on competing with entry lvl wheelbases in 5-8nm range.
Fanatec still owes me my bundle set and customer support is nowhere to be seen.
I doubt Corsair CS will be willing to refund a Fanatec customer.
So now i am 2k poorer with no wheel.
Just hope Corsair dont iCue all the software.
holy shit. i mean i'm not mad, finally some proper distribution channels. but suuuuuper fucky on their shareholders.
Disagree on the R&D aspect...it's way faster than logitech and probably thrustmaster too?
I think the issue is more talking/teasing products way too early.
Announcements of announcements can die
so is it safe to buy now? New or second hand
who knows
i was thinking about buying a secondhand gt dd pro, still in warranty. But now I don’t know what to do
Yes it's totally fine. This is a management problem which will be resolved.
If you follow the forum the guys responsible for software/hardware issues are there working and updating.
Life goes on.
While I don’t own any Fanatec products. With all the stories I’ve read on Reddit it hasn’t really been safe to buy their products for a year plus now.
Lots of stories of products never shipping and no way to contact them. Stories of having to RMA a base 3 times and it taking 9 months total. And people who can’t even get their broken stuff RMAed to be fixed. It would appear it’s been risky to deal with the company for a good while now.
@@Bigheadedwon In my case I have products from them including a CS DD+. Yes, they have some problems with CS DD/DD+ but they are working actively to resolve them. Most of them are driver/firmware related and I experienced one of them but with the last driver/firmware it's resolved. Now they are investigating and working on USB disconnects issues mostly for PS users. Also some PC users experience USB disconnects, in my case all fine. Could be software related or maybe also hardware but RMA bases are on their way for debugging. Even if there is still management, money and customer service problems they are 100% involved to resolve them. So I'm not worried about my products becoming obsolete. And the last news involving Corsair I find it as a positive.
Used to be a fan of Corsair, have owned several of their products. But have extremely poor experience with recent batches of headphones. Battery life, build quality. All terrible. Good customer service though
Thomas is passionate about sim racing n he deserves another chance at this company, now its just some people who are gonna cheapen the brand n make it much worst n toy like most likely, with no real innovation n moving sim racing forward. Hopefully asetek step up I know they said they plan on supporting consoles, so that will help keep profits up big time n hopefully some innovation, n some real competition for fanatec to further speed up sim racing tech.
I don't even think it's even legal to just not pay your shareholders and drop them like a rock. I'm sure there will be many lawsuits from the shareholders and it's going to get really ugly.
I love fanatec but it is karma, some bad decisions made like changing the workshop, a kart in roof????? It is delusional.....
Iam fear that in the future the sofware upgrafe suport stops....
Fanatec by Corsair ?🤔
Everyone I’ve talked to thinks this is really bad for the company.
I think this is really really good for Fanatec!
well see
good video
Thanks
Ill just stick with moza
THE BATMAN IS BACK , what you know about fanatec and corsair ?
go back to grid finder and their podcast at least you made more sense with three of you
Question? Why does a Portuguese guy living in England care about Micro Centers in the United States? Did I miss your move to North America???
US viewers are the biggest demographic of the channel
In my opinion Corsair should leave the current products with the same prices and not bomb all the future products full of RGB
Investments are not guaranteed. Risk is a part of stocks. not an issue.
Is Corsair the same company that makes hair dryer and electric shaving product?
So they are screwing over all the shareholders wtf that is crazy
please be in Asia! :( would really love to upgrade to a fanatec someday
WOW have to wonder what this means for older fanatec peripherals
nothing
"high performance gear" is that why not even corsair sponsered esports pros dont use corsair mice, but rather final mouse, razer or logitech? lol
I know Fanatec shareholders are fuming right now.
I saw this coming. One of their RUclips investors put a warning video out about this some days ago. I am not going to mention his name but you are welcome to do a little bit of youtube research to find him after watching this video
huh why you tryna act likeu know inside infomation lmao, everyone knows its Emrz, ooo you saw this coming no way bet you feel special
Here, have a bag of salted peanuts.
If the StaRUG goes ahead, RIP to German financial markets. With Jackermierer offering to put up the cash, there is no excuse on earth to push StaRUG.
Shareholders losing all value, dont buy their crap if thats how it unfolds
if Corsair buys Fanatec, you can expect a price increase by atleast 30% and waaaay more marketing and corsair sim shills
They also have 70€ million
of debt. I doubt they are closing that gap within the quarter.
debt is a long term problem unless they have short term commitments to it. most companies operate with debt.
wow, 70€ !!!
@@givemeajackson oops...
Fixed.
With over 100 million in revenues the latest years it doesn't seem overly high. I speculate that this was a hostile overtake by the bank and some suspects inside the company.
@@Leynad778 yeah, I don't understand why nobody talks about the bank. it was their requirement that Fanatec removes Thomas from CEO position and it's not something that happens all the time. it's like they wanted to get rid of him for more reasons than just getting their money back. this is very suspicious