North American esports organization, media company, and apparel brand 100 Thieves have made their first-ever acquisition, purchasing gaming peripherals company Higround.
100 Thieves have made a name for themselves largely through tapping into ‘hypebeast’ culture, building excitement and anticipation for limited edition apparel collections.
They’ve now made their first acquisition, taking on Higround in a move that shows they’re sticking to these roots. The company are known for making custom gaming peripherals, such as keyboards, and they recently collaborated with Apple’s Beats on a limited range of branded products.
Teased on social media on October 12, this business move was first reported by The Verge. Financial details of the transaction were not disclosed.
Welcome @Higround to 100 Thieves!
Higround is a lifestyle brand whose unique keyboards sit at the intersection of peripherals, collectibles, and gaming culture. Higround is our first-ever acquisition & we're excited to help them build for years to come.#100T #LookBetterUpHere pic.twitter.com/c7KOlWVCXH
— 100 Thieves (@100Thieves) October 13, 2021
While 100 Thieves made $2.5m in the first month of their Foundations apparel line, a collection that’s always available for purchase, it’s apparent that the org aren’t steering away from their exclusive approach to products.
It’s reported that while 100 Thieves will own Higround, the peripherals brand will operate as an independent outfit. “We don’t want to take over their identity, we don’t want to go too far deep into 100 Thieves injecting its DNA into Higround,” 100 Thieves founder and CEO Matthew ‘Nadeshot’ Haag told The Verge.
— Higround™ (@higround) October 13, 2021
“From my perspective, unless you’re a keyboard enthusiast, if you’re a casual gamer and you go to the store, there are only like two products that are offered: a black keyboard and a white keyboard,” Haag said.
“And there are a lot of brands that I have a ton of respect for, but I still think that there’s room in the market for there to be a marquee brand that everybody gravitates towards because of the stories that they tell and the image that they portray.”