One of the most solid video game controller and peripheral companies in the business is getting acquired for a hefty chunk of change by Turtle Beach this week. The company announced it would be snatching up none other than PDP, the group behind the Victrix brand, as well as many other unique and occasionally budget gaming accessories like gamepads and headsets. The transaction pertaining to this deal was settled for around $118 million USD.

Turtle Beach announced its acquisition of PDP in a press release posted on Turtle Beach’s website this week. According to the announcement, Turtle Beach has settled the deal with PDP and will finish acquisition of it this week to the tune of $118 million USD, $79.9 million of which will be in cash, with the rest being paid in the issuance of 3.45 million shares of Turtle Beach common stock.

This marks a major pickup for Turtle Beach. PDP has been a highly popular brand in the gaming peripheral space. The Victrix brand alone has been a heavy hitter for PDP, riding on the strong backs of products such as the FS-12 Pro leverless arcade stick and the highly-customizable BFG controller. That said, PDP has also banked on some less expensive offerings such as the REALMz collection, in which it partnered up with groups like Sega and Nintendo to create translucent themed controllers that had little figures from Sonic the Hedgehog and Pikmin included in them.

With such a major acquisition by Turtle Beach, it will be interesting to see what PDP and Turtle Beach do together. Stay tuned as we continue to follow these two groups for the latest product updates, details and reviews.