Saitek is pretty much the leading manufacturer of elaborate gaming peripherals. They're the group that makes joysticks with separate throttles, dashboards, and so forth, for flight simulators, driving games, and sci-fi titles. Until now, they were a subsidiary of Mad Catz, which is best known for third-party console controllers, although they also made PC accessories since the DOS era. In case you've never heard of them, Mad Catz also made GameShark.
Now, Logitech has purchased the Saitek portion of Mad Catz's business, which handles "simulation" accessories. According to their blog post, the company plans to merge Saitek into their Logitech G series of products. That's about all the we know of their plans at the moment, though. This should be interesting to follow over the next few years.
Finance-oriented sources claim that the acquisition totals about $13 million USD, in cash.