The assets sold includes specified trademarks valid in the U.S., China, Hong Kong, and Russia.
Mad Catz acquired the line of gaming headsets from Tritton Technologies in 2010 for $1 million in cash, along with a maximum of $9 million more over the next five years if the products hit certain unspecified sales goals.
Mad Catz voluntarily filed for bankruptcy in March 2017 after several years of financial struggle. It gambled big on making peripherals for Harmonix’s “Rock Band 4” in 2015, but consumer interest in the rhythm genre had diminished at that point. Mad Catz president and CEO Darren Richardson, along with other executives, resigned a year later and the company cut a large portion of its workforce. By January 2017, it was at risk of being delisted from the New York Stock Exchange.
Mad Catz returned in 2018 with a whole new slate of products at CES in Las Vegas. A spokesman told CNet at the time a Chinese holding company had bought nearly all of its assets. Mad Catz Global Limited Executive Board of Directors member Lucian Lu said the company has been overwhelmed with support from retail, distributors, and the gaming community since making its comeback.
“We remain highly focused on exceeding expectations for the brand, and look forward to the imminent shipping of our first line of new Mad Catz products,” he said. “As we put our combined efforts into growing the Mad Catz brand, we are pleased to find a buyer who can devote the time and resources needed to see the Tritton line flourish and wish Silkysea International every good luck with their future Tritton endeavours.”