Logitech to buy Streamlabs, creator of our favorite streaming software, for $89 milli

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The creators of free, brilliant streaming software Streamlabs, one of the building blocks of a beginner Twitch setup, is being bought by peripherals giant Logitech for around $89 million.

Streamlabs is essentially a one-stop shop for streamers: it lets you set up your stream, apply graphics overlays, customize notifications, and more. In a blog post, Streamlabs co-founder Ali Moiz told users Streamlabs will continue to support all hardware and software that it does today, that it will remain free to use, and that Logitech's resources will allow the team to build even more tools in the future.

It's not hard to see why Logitech was keen on the deal: on its website, Streamlabs claims 70% of Twitch users use its software. Logitech also manufactures many products streamers might use, such as keyboards, mice and webcams. It also owns Blue Microphones, which makes some of the best streaming mics.

In a press release, Logitech said the deal includes an "additional payment of $29 million in Logitech stock subject to the achievement of significant revenue growth targets for Streamlabs".