Streamlabs, a US-based live streaming software producer backed by record label Universal Music Group (UMG), on Thursday agreed to an acquisition by computer peripherals vendor Logitech International for up to $118m.
Logitech will pay $89m in cash, with an additional $29m in stock subject to revenue growth targets for Streamlabs.
Founded in 2014, Streamlabs has created an all-in-one software for desktop and mobile that allows users to easily manage live streams across third-party platforms such as Twitch, YouTube and Facebook, monetise content and engage and grow audiences.
Streamlabs raised approximately $17.3m in funding and most recently achieved an $80m post-money valuation, according to Axios. CEO Ali Moiz confirmed the figure, as well as UMG and Sequoia Capital’s investments, in an interview with Money.com in August 2018.
Axios subsequently identified Crosscut Ventures, Matrix Partners, Battery Ventures, 500 Ventures and Ludlow Ventures as backers, though further details could not be confirmed.
Moiz said: “Streamlabs and Logitech both share a strong passion for gaming and a dedication to serving the global community of gamers and streamers. Joining with Logitech allows us to keep doing what we love and be bolder than ever on a much bigger stage.”
