Logitech has agreed to acquire live-streaming software and tools company Streamlabs for $89 million in cash. 

Founded in 2014, Streamlabs creates and provides a number of tools and services for professional streamers, including the popular Streamlabs OBS app, which among other things helps users create streams, monetize content, follow chats, and track donations. 

Streamlabs claims that around 70 percent of Twitch streamers currently use its software, and notes its OBS app currently has 1.6 million users each month. 

Commenting on the purchase, Logitech general manager and vice president Ujesh Desai claimed Streamlabs' software lineup will complement its existing roster of game peripherals, driving growth for both companies.