So Streamlabs, a software tool that used mostly by game or video streamers to overlay content like ads or campaign banners above whatever video or game they’re streaming, has been acquired by Logitech.
Logitech makes another huge acquisition
Logitech acquired the company for $89 million plus an additional $29 million if the Streamlabs team can reach a significant revenue growth targets.
Streamlabs which was started back in 2018 already has about 1.6 million monthly streamers making use of their tool. The company also has a mobile phone app which boasts of 480,000 users.
The acquisition is said to be coming at the right time as Logitech are working on building hardware for gamers and streamers.
According to Streamlabs CEO Ali Moiz, their tool is still gonna be free and they’ll continue to support any platform they are already supporting.