How could a simple press release from ENDOR AG trigger such a wave of misinformation? Let’s try to understand the situation and see if it is indeed as alarming as some people are claiming on the web.
A thought for our staff
First of all, I’d like to take two minutes to think about the employees of ENDOR AG, who are no doubt having a difficult day. Not only have they just learned some bad news, with a possible risk of mass redundancy, but they are also being subjected to massive misinformation.
ENDOR AG is a team of men and women who deserve encouragement, and a little restraint in what some people say. At a time when harassment and hurtful comments can be a plague on the web, perhaps we should show some respect before jumping to conclusions, and offer some encouragement for what’s to come.
What’s going on?
The first crucial point to note is that ENDOR AG uses the FANATEC brand to sell its products.
ENDOR AG develops and markets high-quality input devices such as steering wheels and high-end pedals for racing simulations on game consoles and PCs. As a “Brainfactory”, the company focuses on the creative sector. Endor carries out product development and prototype construction under its own management and in collaboration with specialized technology partners, mainly in Germany. Endor sells its products under the FANATEC brand via e-commerce, mainly to end customers in Europe, the USA, Canada, Australia and Japan.
ENDOR AG
So, the FANATEC brand is not directly linked to the Group’s problems. ENDOR AG is the Group, while FANATEC is a brand that belonged to the same Group.
When CORSAIR came to rescue ENDOR AG from its disastrous situation, a proposal was made. In exchange for an initial payment of a sum for which we do not have an exact figure, CORSAIR undertook to reassure the banks.
In return, CORSAIR took possession of the FANATEC brand, patents and licenses acquired by FANATEC. Let’s not forget that FANATEC owns the rights to F1 and WRC products, among others.
There may have been some doubts as to the veracity of this information. It has now been confirmed by Thomas Jackermeier himself, who, faced with the disastrous situation of the ENDOR AG group, is trying on Wallstreet Online to clear his name and accuse CORSAIR of torpedoing the situation.
“As expected and feared, CORSAIR has now caused the insolvency, because CORSAIR already has the rights to the brand and does not attach any importance to the Landshut site. Why the banks didn’t recognize this despite repeated warnings from me is a mystery to me. The board of directors should have been replaced immediately with the knowledge of the aoHV and the banks would have had the power to do so.”
Thomas Jackermeier – July 31, 2024 – WALLSTREET ONLINE
His words are his own, but they confirm the most important news of the day: FANATEC is saved in spite of everything.
What’s next?
ENDOR AG was keen to reassure its customers. Of course, there are disruptions, which are understandable, but the Group wants to keep its commitments to the FANATEC brand.
It would be untrue to say that all is well, but to advise against buying a FANATEC product seems disproportionate today. The debts are colossal, but the Group has been given the green light to continue its activities and is legally protected against its creditors.
We are absolutely not at the stage of any kind of bankruptcy, as some people may claim. CORSAIR had the excellent idea of saving, above all, the brand so beloved in sim racing. They have saved its history, its patents and undoubtedly ensured a brighter future.
As for ENDOR AG, we’ll have to wait for further information before making a decision. We remain hopeful that a solution can be found quickly.
Update: 03/08/2024
Confirmation
Fanatec has been a CORSAIR brand since May 30, 2024. The information comes from the office of the EUIPO, the European Union Intellectual Property Office.
