One of the world's largest makers of computer joysticks has put itself up for sale, after revealing that it has received a number of unsolicited inquiries from would-be suitors.

Bristol-based Saitek Group, which makes computer joysticks and video game controllers, today announced that it had appointed an adviser to oversee a potential sale. Saitek claims to be the world's second largest joystick manufacturer, supplying products to some of the world's largest retail chains, including WalMart, BestBuy and DSG - the owner of Currys and PC World.

"This is an exciting time," said David Inwood, chief strategy officer at Saitek Group. "The Saitek brand has international resonance and the opportunity for expansion is quite considerable in the current environment."

With the computer games market expanding rapidly and now estimated to be worth around $30bn the demand for peripherals such as joysticks is growing. Saitek has experienced according expansion, and the last financial year proved to be its best on record with sales reaching £30m.

Interest in the company stepped up after both Microsoft and Hewlett Packard announced that they were increasingly keen to expand their computer game peripherals businesses. That led to a number of approaches, which has, in turn, convinced Saitek's owner, Swiss-born technologist Eric Winkler, to cash in after 28 years in the business.

"Forrester Research recently highlighted that the gaming sector was one to watch," said Paul Herman of Cavendish Corporate Finance, a mergers and acquisitions specialist which is overseeing the sale. "We've been encouraged by the level of interest from Asian and north American companies."

Mr Winkler is expected to demand an asking price of around £25m, though some analysts have suggested the company may command a higher figure from buyers wanting to get hold of its lucrative distribution deals.

As well as around $1bn in sales of PC games, the market has also seen the launch of new high-end consoles such as Sony's PlayStation 3 and Microsoft's Xbox 360 over the past 18 months.

The biggest brand in the joystick market is California-based Logitech, which was also founded by Swiss entrepreneurs, and has around 35% of the market.

Saitek started out in 1979 by selling handheld electronic chess games from Hong Kong. Since then it has expanded to around 130 staff and has offices in the UK, France, Germany, the US and Asia.