PALO ALTO, California, February 24, 2021 (GLOBE NEWSWIRE) – HP Inc. has today announced a final deal to acquire HyperX, the gaming division of Kingston Technology Company. The acquisition supports HP’s strategy to drive the growth of its personal systems business, where games and peripherals are attractive segments. HyperX’s award-winning product portfolio encompasses a wide variety of gaming peripherals, including headphones, keyboards, mice, mice, USB microphones, and console accessories.
“HyperX is a leader in peripherals whose technology is trusted by gamers around the world and we are delighted to welcome your excellent team to the HP family,” said Enrique Lores, President and CEO of HP Inc. “We continue to advance our leadership in Personal Systems by modernizing computing experiences and expanding into valuable adjacencies. We see significant opportunities in the large and growing peripheral market, and the addition of HyperX to our portfolio will drive new sources of innovation and growth for our business ”.
PC games continue to be one of the most popular forms of video games, as the PC hardware industry is expected to be worth $ 70 billion by 2023.1 The global peripheral market is expected to grow to $ 12.2 billion by 2024, and gaming peripherals will account for a disproportionate share of that growth.
“HyperX products are designed to meet the toughest requirements of all players, from the casual to the toughest, giving them a winning edge and helping them stay ahead of their game,” said John Tu , co-founder and CEO of Kingston. “Both companies thrive because we focus on our employees and share the same core values and culture. David Sun (co-founder and COO) and I saw the possibilities for the HyperX business and its employees and we both realized that this change brings a brighter future to HyperX. “
HP has created a broad and growing gaming portfolio in recent years, led by its OMEN brand and an ecosystem of world-class hardware, software, content and services. The company continues to drive game progression with powerful devices such as the OMEN 15 gaming laptop and the HP Pavilion Gaming 16 laptop. Beyond devices, HP is pushing software innovation with the OMEN Gaming Hub, a destination for gamers to connect. , customize and explore your equipment and games. The addition of HyperX to HP’s broader gaming ecosystem will deliver innovative new experiences to everything players see, hear and touch.
Under the terms of the agreement, HP will pay $ 425 million, subject to the usual working capital and other adjustments, to acquire HyperX’s gaming peripheral portfolio. Kingston will keep DRAM, flash and SSD products for gamers and enthusiasts. The acquisition is expected to be cumulative by HP, other than GAAP, in the first full year after closing. The transaction is expected to close on the Q2 2021 calendar, pending regulatory review and other usual closing conditions.
About HyperX
For 18 years, HyperX’s mission has been to develop gaming solutions for all types of players and the company is constantly recognized for offering products that provide superior comfort, aesthetics, performance and reliability. Under the motto “WE ARE ALL GAMES”, headphones, keyboards, mice, USB microphones and HyperX gaming console accessories are the choice of everyday gamers, as well as celebrity ambassadors, professional gamers, technology enthusiasts and overclockers around the world because they meet the strictest product specifications and are built with the best components in their category.
About HP
HP Inc. creates a technology that improves the lives of everyone and everywhere. Through our portfolio of products and services for personal systems, printers and 3D printing solutions, we design amazing experiences. You can learn more about HP Inc. at http://www.hp.com.
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1 Sources: VGA24 / 7, DFCint, NewZoo, Steam – https://www.wepc.com/statistics/pc-gaming/