Elgato exits the video capture market

Elgato Systems, self-described 'manufacturer of app-enabled lifestyle accessories', has announced that it is leaving the video capture and streaming market to concentrate on smart home products under its Eve brand - and Corsair has picked up the baton.

Founded in 1992 by Markus Fest, Munich-based Elgato Systems began life as a purveyor of video capture products sold under the EyeTV brand. By 2004 the company had products capable of working in both directions, capturing TV signals into computers and turning computer video into TV signals, and in 2012 saw enough promise in the burgeoning game streaming market to launch its own hardware capture devices - inspired, the company claims, by the use of modified versions of its TV-focused product lines for the same purpose.

With modern PCs and consoles having streaming technology built in, though, there's less interest in dedicated streaming hardware. As a result, Elgato Systems is no more: The company has announced it is leaving the video capture and streaming market to focus on its smart home products, and will change its name to Eve Systems as a result. The streaming side of the company, meanwhile, has been picked up by Corsair - which is welcome news for anyone with an Elgato system at present.

'Today, the Gaming space is more dynamic and exciting than ever, and we sought a larger partner to help us capitalise on the phenomenal opportunities ahead,' Elgato founder Fest claims, spinning the news of the sale into more of a partnership - despite now being the chief executive of Eve Systems, a company unrelated to gaming. 'Our gaming business has been wildly successful, and that success is inextricably linked to the Elgato brand. The brand has been with us for almost twenty years and we are obviously a little sad to see it go, but Corsair is a fantastic company and will be a great new home for Elgato. At the same time our Eve product line will benefit from a focused team and a dedicated organisation. This move will further strengthen both product families.'

Corsair is expected to continue to support owners of existing Elgato video hardware, but has not yet announced its plans for the product range going forward.