LogiTech announced via a press release which was published earlier this week it’s interest in buying streaming toolkit, Streamlabs for an amount worth $89 million “with an additional payment of $29 million in Logitech stock subject to the achievement of significant revenue growth targets” for the acquired team.

StreamLabs if you may ask is an all-in-one solution for professional live streamers which is highly popular in the business. The company infact claims about 70% of streamers on Amazon’s Twitch platform. Parts of those content consumed includes graphical overlays, monetization, alerts and comments integration with a streaming platform of choice, and even more available through the company’s website as well as their open-source StreamLabs OBS software for the Windows PC platform which is also free.

Based on the kind of business which LogiTech operates, this acquisition makes a lot of sense as the company moves to the streaming space which is currently getting crowded and of course StreamLabs is an already established brand i that respect for those who are new and aspiring to start live streaming.

What could eventually happen to StreamLabs itself isn’t yet known to us from this standpoint but according to the company’s CEO Ali Moiz, he assured streamers that the company’s tools will remain unchanged and in fact still free to use.

When my brother Murti and I founded Streamlabs our goal was to enable streamers to pursue their passion while making a living. Now that we’re part of the Logitech family, we’ll be able to take this so much further with their reach, resources and expertise.

What does this mean for Streamers? Nothing changes. We will continue to support multiple platforms, all hardware and software services that we support today (and more in the future). Our tools will remain free and open. The extended Logitech family — Logitech G, ASTRO Gaming and Blue Microphones — will help us build more awesome stuff together.

The marriage between Streamlabs’ software solution and Logitech’s expertise in the PC peripheral business may have, among other things, laid the groundwork for new hardware specifically tailored for streaming professionals. Logitech already owns the popular Blue brand of microphones used by many streamers and content creators and churns out a variety of PC peripherals popular among gamers.