Dallas-based PC gaming hardware brand Glorious has received investment from San Francisco-based Francisco Partners, the company announced today. The transaction will close in October.
Glorious has also appointed Pat Wachendorf as its new CEO, succeeding founder Shazin Mohammad. Mohammad will continue to hold equity in the tech company following the transaction.
“We are thrilled to announce this new investment from Francisco Partners, which will allow us to accelerate innovation and increase the breadth of our product offering,” Mohammad said in a news release. “Glorious was founded to democratize access to high-quality gaming products, and this new investment will enable Glorious to better serve the gaming community at large. I am excited to partner with Pat, as well as the FP team, to drive Glorious in its next stage of growth.”
Glorious said the new investment will enable the company to continue to build and provide gaming peripherals, penetrate adjacent product categories and expand into new markets.
“We are excited to partner with Pat and Shazim on the next phase of Glorious’ growth journey,” Alan Ni, partner at Francisco Partners and Kevin Wei, principal at Francisco Partners, said in a news release. “Shazim has done an exceptional job building Glorious’ brand and has shown an impressive dedication to understanding the needs of its enthusiastic customers. We are thrilled to welcome Pat onboard at Glorious, and partner with the entire team to build and scale Glorious going into the future.”
Los Angeles-based Wedbush Securities served as the financial advisor and Boston-based Brown Rudnik served as the legal advisor for Glorious in the transaction. Kirkland & Ellis LLP represented Francisco Partners as legal advisor.
