HP Announces Acquisition of HyperX for $425 Million
HP announced that they will acquire HyperX, the gaming division of Kingston Technology Company. This will be the next step from HP as they continue to support gaming peripherals for PC and console.
HyperX is known for its range of peripherals, including headsets, keyboards, mice, mousepads, USB microphones, and console accessories.
“HyperX is a leader in peripherals whose technology is trusted by gamers around the world, and we’re thrilled to welcome their outstanding team to the HP family,” said Enrique Lores, President, and CEO, HP Inc. “We continue to advance our leadership in Personal Systems by modernizing compute experiences and expanding into valuable adjacencies. We see significant opportunities in the large and growing peripherals market, and the addition of HyperX to our portfolio will drive new sources of innovation and growth for our business.”
HP plans to continue to focus on its Omen brand, which also has a lineup of accessories for PC players. In the agreement, HP will pay $425 Million to acquire HyperX’s portfolio. Kingston will retain the DRAM, flash, and SSD products. The acquisition is expected to be accretive on a non-GAAP basis to HP in the first full year following closing. The transaction is expected to close in calendar Q2 2021, pending regulatory review and other customary closing conditions.
“HyperX products are designed to meet the most rigorous demands of all gamers – from casual to the most hardcore – giving them a winning edge and helping them stay on top of their game,” said John Tu, co-founder and CEO, Kingston. “Both of our 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 for HyperX.”
We’ll be sure to keep you updated on any new announcements from the company.
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