CVC Weighs Options for Razer After $3.2bn Buyout

CVC Capital Partners is exploring options for Razer Inc., less than a year after taking the gaming peripherals maker private in a $3.2bn deal, according to people familiar with the matter.

The buyout firm is conducting a strategic review of Razer and has held initial discussions with potential advisers, said the people, who asked not to be identified as the matter is private. Options include a sale, introducing a strategic investor and acquiring assets to grow the company, the people said.

Considerations are preliminary and no final decision has been made, the people said. Representatives for CVC and Razer declined to comment.

The review could become the latest twist in the history of 17-year-old Razer, co-founded by Min-Liang Tan and the late Robert Krakoff in California and Singapore. Razer went public in Hong Kong with much fanfare in 2017 but it had since floundered afterwards, with its shares trading below its initial public offering price of HK$3.88 apiece.

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The company also struggled to expand into financial services. It shuttered its e-wallet Razer Pay in 2021 after failing to win a license from the Singapore government to launch a digital bank.

A consortium including CVC, Tan and board member Kaling Lim earlier this year offered to buy out the gaming peripherals maker in a $3.2 billion deal. Razer’s shares were delisted from the Hong Kong stock exchange in May.

Source: BNN Bloomberg

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