Logitech’s $85 Million Acquisition of Skullcandy’s ASTRO Gaming headset business


Foley Hoag LLP recently represented Mill Road Capital II, L.P. and its portfolio company, Skullcandy Inc., in the $85M sale of Skullcandy’s ASTRO Gaming headset business to Logitech (NASDAQ: LOGI), a Swiss public company offering music, gaming, video and computing products.

The sale of ASTRO comes less than a year after Mill Road’s going private acquisition of audio and gaming products company, Skullcandy. ASTRO was acquired by Skullcandy in 2011, and holds a leadership position in the premium console gaming headset market. Skullcandy products are sold and distributed through a variety of channels around the world from Skullcandy’s global locations in Park City, Tokyo, Zurich, Vancouver and Mexico City.

Mill Road is a private investment firm focused on investing in and partnering with publicly traded micro-cap companies in the U.S. and Canada, with a strong record of investments in consumer brands. The firm has flexible, long-term capital with the ability to purchase shares in the open market, buy large block positions from existing shareholders, provide capital for growth or acquisition opportunities, or execute going-private transactions.

Foley Hoag attorneys Peter Rosenblum (Picture), Mark Haddad, Adrienne Ellman and Jeremy Arak represented Mill Road and Skullcandy in the transaction, with additional assistance provided by Hemmie Chang, Sarah Cooleybeck and Nicola Lemay.

Involved fees earner: Peter Rosenblum – Foley Hoag; Mark Haddad – Foley Hoag; Adrienne Ellman – Foley Hoag; Jeremy Arak – Foley Hoag; Hemmie Chang – Foley Hoag; Sarah Cooleybeck – Foley Hoag; Nicola Lemay – Foley Hoag;

Law Firms: Foley Hoag;

Clients: Mill Road Capital; Skullcandy;

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Author: Ambrogio Visconti