Skullcandy is expanding its reach in the headphone space by picking up the San Francisco-based video gaming electronics company Astro Gaming for $10.8 million, according to a story in the Wall Street Journal.
Some will remember that in addition to the companies listed below, one of Astro’s other investors is Nixon co-founder Chad DiNenna.
Astro Gaming was backed by investors including Triangle Peak Partners LP and Fayez Sarofim & Co. . . Skullcandy also disclosed in the new filing that it generated a net loss of $9.7 million last year, compared with a $13.5 million profit the year prior. Though its revenue rose 35.7% to $160.6 million thanks to increased sales to large national retailers, a one-time charge for management incentive bonuses took out a $17.5 million chunk of its profit.
Good thing Skullcandy is going public. Looks like that money is going to come in pretty handy.
[Link: Wall Street Journal]
