Fanatec, a prominent name in sim racing hardware, is facing an uncertain future after its parent company, Endor AG, filed for insolvency in German court.
Endor assures that business operations for end users will continue as normal. “Sales and warranty and repair services will continue without restriction, and customers will continue to receive driver and software updates,” the firm stated. However, there is uncertainty regarding Corsair's involvement. While Endor believes Corsair remains interested in acquiring the company, sim racing news outlet Overtake reports that “Corsair is out as a strategic investor.” Endor claims Corsair stopped payments due to “ongoing disruptions” in the reorganization.
Endor’s CEO Andres Ruff cited several reasons for the company's current situation, including “numerous wrong management decisions in recent years.” These include an oversized new headquarters, miscalculated orders of merchandise and components, and failures to introduce cost-saving processes.
Fanatec’s founder and former CEO, Thomas Jackermeier, was ousted in March but remains the largest shareholder. He attempted to reclaim the company, but Corsair announced its intent to take over Endor in May, assuming some intellectual property as collateral. Jackermeier then called an “extraordinary general meeting” to oppose the reorganization, but negotiations failed due to what Endor called “unrealistic demands.” Corsair subsequently halted funding. Endor's liabilities now total $103 million against $108 million in annual sales.
While Corsair’s recognition of Endor’s “short-term cash needs” was clear, the news still shocked the sim racing industry. Fanatec, active since 1997, has been a leader in affordable, mainstream direct-drive wheel bases and has partnered with major players like Gran Turismo. Despite its technical prowess, Fanatec has faced logistical and quality control issues, with some customers experiencing wait times of over three months for orders. Recent deep discounts on products also highlight the management's note about “miscalculated” stock. The future of Fanatec remains uncertain, and its potential absence would leave a significant gap in the sim racing market.
Source: The Drive