Mad Catz Interactive, a leading third-party interactive entertainment accessory provider, has entered into a definitive agreement to acquire 100 percent of the shares of the private holding company that owns Saitek's worldwide operations. Saitek is a leading worldwide provider of PC games accessories, PC input devices and multimedia audio products. The deal cost Mad Catz $30 million, $15.5 million of which was in cash and borrowings, and the rest in convertible notes at a rate of 7.5 per cent. Commenting on the transaction, Darren Richardson, President and Chief Executive Officer of Mad Catz, said, "PC games peripherals is a category closely adjacent to our core console business and we are thrilled to be adding one of the world's leading providers to the Mad Catz family. Saitek significantly enhances Mad Catz' position as one of the world's leading games peripherals companies and provides us an entree into the businesses of PC mice, keyboards and speakers and electronic chess and intelligent games.