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Saturday, Jul 2, 2022

Razer Buys Phone Maker

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Irvine-based video game products maker Razer Inc. has acquired the majority of assets of a San Francisco company that developed a mobile phone that offers unlimited cloud-storage capacity.

Financials details of the deal for Nextbit Systems Inc. weren’t disclosed.

Nextbit will operate as a standalone business under its prior management team, according to Razer.

The company developed the Robin smartphone, which merges cloud and onboard storage. It retails for $299.

Nextbit was founded in 2013 by former Google executives and early Android builders Tom Moss and Mike Chan.

Razer began in the late 1990s developing computer gaming accessories such as mouse controllers and keyboards, and then gaming-optimized consoles and laptops. It recently expanded into virtual reality devices and wearables, according to industry tracker TechCrunch.

The privately held company does not disclose financial information. About a year ago sold a 5% stake for $75 million to China-based LianLuo, an affiliate of Hangzhou Liaison Interactive Technology.

LianLuo was formerly known as Digital Grid.

The investment was part of a Series C fundraising round.

Razer has raised at least $125 million in the last six years, in addition an undisclosed investment by Intel Capital in Santa Clara in 2013.

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