Cult video gaming firm closer to IPO

Dec 21, 2011

Leading video game hardware company Razer has secured $50 million from a Beijing-based venture capital fund that takes it potentially closer to a public listing, the company said Wednesday.

A date for the (IPO) has not yet been set but having IDG-Accel Capital Fund as a strategic partner will boost Razer's corporate ambitions, said chief executive Min-Liang Tan.

"Given our global reach, we wanted an institutional partner who didnt just provide funding but could also help us scale," Tan said in a statement.

"IDG-Accel is a and their relationships in the US and China will definitely be complementary for our worldwide businesses," he said.

Razer -- which is headquartered in California with offices in nine cities including Singapore, San Francisco, Seoul and Shanghai -- is a cult brand among gamers with its high-performance devices such as mice, keyboards, headsets and joysticks.

The firm has not set a date for the listing which will be decided pending consultations with its financial advisers, Tan said, adding the recent financial market upheaval will not affect its IPO plans.

"We remain opportunistic and going public is one of the many routes we can take," he said.

"We're focused on our products and design and ultimately believe that those are key to a , and the IPO process will sort itself out.

Hong Kong, Singapore and the US are on the short list of candidates for the flotation, Tan added.

Razer said the new cash from IDG-Accel Capital Fund would be invested in technology as well as used to expand its design portfolio.

Explore further: Nokia profits rise after sale of handset division

add to favorites email to friend print save as pdf

Related Stories

TechCrunch founder starts venture capital fund

Sep 02, 2011

(AP) -- Michael Arrington, founder of popular tech blog TechCrunch, is starting a venture capital firm with an initial $20 million to invest in the same kinds of startups that TechCrunch often covers.

Online video firm Brightcove files for IPO

Aug 24, 2011

Brightcove, a US tech company which provides a cloud computing-based platform for online video, filed on Wednesday for an initial public offering (IPO) that aims to raise up to $50 million.

Recommended for you

Nokia profits rise after sale of handset division

1 hour ago

(AP)—Telecommunications and wireless equipment maker Nokia Corp. saw its shares surge on Thursday after it reported higher profits and an improved earnings outlook in the wake of its sale to Microsoft of its troubled handset ...

Swiss drug maker Roche posts 7 percent profit drop

3 hours ago

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

Cheaper wireless plans cut into AT&T 2Q profit

14 hours ago

(AP)—AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

Facebook 2Q earnings, revenue soar (Update)

14 hours ago

(AP)—Facebook is on a roll. The world's largest online social network posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, and more people used it, more often.

Android grabs more tablet market share

16 hours ago

Global sales of tablet computers edged higher in the second quarter, in the slowest growth since 2009, research firm Strategy Analytics said Wednesday.

User comments : 0