San Diego, CA – September 22, 2015 – Turtle Beach Corporation (NASDAQ: HEAR), the leading-edge audio technology company and #1 in gaming audio, today announced the Company has entered into a strategic partnership with Kuehne + Nagel, one of the world’s leading integrated logistics providers.
“Partnering with Kuehne + Nagel is a key step in the globalization, standardization and simplification of our supply chain partner network,” said Robert Andris, Senior Vice President of Global Supply Chain Operations, Turtle Beach Corporation. “Leveraging Kuehne + Nagel’s scale, operational prowess and visibility increases our agility as we revamp the cost, quality and delivery aspects of Turtle Beach’s operation. This is a significant advancement in our supply chain transformation as we continue the globalization of our operations and expand into new territories.”
“Finding a logistics provider that supports our strategic global direction was a critical factor in partnering with Kuehne + Nagel,” said Juergen Stark, CEO, Turtle Beach Corporation. “Kuehne + Nagel’s global reach is key to supporting our market expansion and financial objectives for both gaming headsets and hearing healthcare solutions.”
“We are excited to enter into this new partnership to support Turtle Beach’s continued growth,” said John Hextall, President and CEO, Kuehne + Nagel North America. “We are committed to deeply integrating our supply chain expertise and providing Turtle Beach a competitive edge through our global network and integrated logistics solutions, thereby facilitating the expansion of Turtle Beach’s gaming headset and HyperSound businesses.”
Celebrating 40 years of business this year, Turtle Beach continues to deliver its patented, innovative audio products to market. In July 2015 the Company launched its third 100% fully wireless Xbox One gaming headset – the Ear Force® Stealth 420X – one of Amazon’s highest consumer rated gaming headsets, and has plans to launch several more new products, including HyperSound Clear™ – the Company’s groundbreaking hearing healthcare device which has been shown to improve sound clarity and speech intelligibility for people with hearing loss for a crisp, clear home entertainment listening experience, by the end of the year.
About Kuehne + Nagel
With over 64,000 employees at more than 1000 locations in over 100 countries, the Kuehne + Nagel Group is one of the world’s leading logistics companies. Its strong market position lies in the seafreight, airfreight, contract logistics and overland businesses, with a clear focus on providing IT-based integrated logistics solutions. Further information can be found at www.kuehne-nagel.com.
About Turtle Beach Corporation
Turtle Beach Corporation (www.turtlebeachcorp.com) designs leading-edge audio products for the consumer, commercial and healthcare markets. Under the Turtle Beach brand (www.turtlebeach.com), the Company markets a wide selection of quality gaming headsets catering to a variety of gamers’ needs and budgets, for use with video game consoles, including officially-licensed headsets for the Xbox One and PlayStation®4, as well as for personal computers and mobile/tablet devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. The company’s shares are traded on the NASDAQ Exchange under the symbol: HEAR.
This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Forward looking statements are based on management’s statements containing the words “may”, “could”, “would”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate”, “target”, “project”, “intend” and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management’s current belief, as well as assumptions made by, and information currently available to, management.
While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, the substantial uncertainties inherent in acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the implementation of any businesses we acquire, our indebtedness, and other factors discussed in our public filings, including the risk factors included in the Company’s most recent Annual Report on Form 10-K and the Company’s other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.
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