Radica buys UK controller maker Leda Media for $14 million
Radica Games has bought Leda Media Products, the UK's biggest third party controller supplier, for $14 million, with a US rollout of the LMP line set for January 2000.
Radica Games has acquired Leda Media Products, the largest third party supplier of game controllers in the UK by 1998 Chart Track numbers and a leading supplier in France and Germany. The $14 million cash and notes deal buys a company that posted over $20 million in sales and $1.1 million in net profit in fiscal 1998, with profits in all three of its most recent audited years.
Radica plans to bring the LMP line to the US in January 2000 (LMP holds a Sony PlayStation license for the American market), fold its European operations together with LMP’s to push its handheld games business, and combine the two companies’ Hong Kong offices. Radica expects the deal to add to its 1999 earnings.