ACCO Brands to acquire PowerA for $395m.

ACCO Brands, an American manufacturer of office products, agreed to acquire PowerA, a provider of third-party video gaming accessories, from Bensussen Deutsch & Associates, a merchandise agency, for $395m, including an additional earnout of up to $55m in cash. "I am very excited about bringing PowerA into ACCO Brands. PowerA is a well-recognized and well-respected leader in gaming controllers, power solutions and other gaming accessories. The company has a multi-year track record of partnering with the largest firms in the console gaming industry. This acquisition represents a major step in our continuing strategy to transition ACCO Brands into a faster growing, consumer-focused company. Our Kensington® computer accessories business has shown strong growth over the past few years. PowerA is a similar business to Kensington, but is in the console gaming accessories market. It will be a great fit," Boris Elisman, Chairman, ACCO Brands President and CEO.