koM2kHyfcARkpVgXXnzkAY 1200 80

Razer Proposes to Take Firm Private to Focus on Fintech and Software

The management of PC and peripherals maker Razer has formally announced plans to take the company private at a valuation of HK$24.70 billion ($3.17 billion), reports Reuters. A group led by executives and a private equity firm cited plans to take significant risks in a bid to pursue new business opportunities in fintech and software as the reasons for the proposal.

Razer is one of the leading suppliers of premium gaming PC peripherals and PCs. For the first half of 2021, the company posted a record-high revenue of $752 million, a 68% increase year-over-year, and a net profit of $31.3 million, as compared to a net loss of $17.7 million in the first half of 2020.