Corsair: Next Tech Company to Go IPO?
1/24/2012 by: Theo Valich
Since its humble beginnings as an 3rd party L2 Cache manufacturer in 1994, Corsair Memory became a household brand among hardware enthusiasts and gamers around the globe.
Ever-expading line-up now includes performance memory modules, Solid State Drives, high-quality cases and power supplies, as well as new product line started with the defection of key Logitech engineers (keyboards, mice, headphones) are all targeting fast-growing PC enthusiast market which almost eclipsed 30 billion dollars in 2011 - by 2013, analysts expect that PC gaming market alone will overtake the complete console ecosystem.
Even though Warcraft recently overtook Lord of the Rings as the highest grossing franchise of all times, explaining the dynamics of gaming industry (hint: average PC gamer is married, has kids, and spends more money on hardware than Wall Street would like to admit).
Thus, going IPO (Initial Public Offering) is never an easy task for a technology company. However, after the success competing companies enjoyed, it looks like the Corsair leadership decided on doing the same and attack the idea of becoming a billion dollar company (up from current secretive 400-450ish million).
Going IPO could be one of reasons why Corsair Memory did a second rename in company history: first we had Corsair Microsystems, then Corsair Memory and now - Corsair Components Inc.
Right now, the company is in the silent period and we expect to see an IPO coming later this year, but nothing is set in stone since IPO preparations and putting all your past in GAAP (Generally Accepted Accountability Principles) shape and form - typically take anywhere between 18 to 24 months.
Corsair did not want to comment on the story.
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