PALO ALTO, California, February 24, 2021 (GLOBE NEWSWIRE) – HP Inc. today announced a definitive agreement to acquire HyperX, the gaming division of Kingston Technology Company. The acquisition supports HP’s strategy to grow its Personal Systems business, where gaming and peripherals are attractive segments. HyperX’s award-winning product portfolio spans a range of gaming peripherals, including headsets, keyboards, mice, mouse pads, USB microphones and console accessories.
“HyperX is a leader in peripherals that players trust worldwide and we are delighted to welcome their outstanding team to the HP family,” said Enrique Lores, President and CEO of HP Inc. continues to advance our leadership in Personal Systems by modernizing and expanding computer experiences to valuable boundaries. We see significant opportunities in the large and growing rand market, and the addition of HyperX to our portfolio will drive new sources of innovation and growth for our business. ”
PC games are still one of the most popular forms of video games, and the computer hardware industry is expected to be worth $ 70 billion by 2023.1 The global peripherals market is expected to grow to $ 12.2 billion by 2024, with games peripherals accounting for an exorbitant share of this growth.
“HyperX products are designed to meet the most stringent requirements of all players – from casual to hardcore – giving them a winning edge and helping them stay on top of their game,” said John Tu, co-founder and CEO chief, Kingston, said. “Both 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 potential for the HyperX business and its employees and we both realized that this change brings a better future for HyperX. ”
Over the past year, HP has built up a large and growing global gaming portfolio, led by its brand OMEN and a world-class ecosystem of hardware, software, content and services. The company continues to drive the progress in games with powerful devices such as the OMEN 15 laptop and the HP Pavilion Gaming 16 laptop. Outside of devices, HP drives software innovation with OMEN Gaming Hub, a destination for gamers to connect, customize and explore their equipment and games. The addition of HyperX to HP’s broader gaming ecosystem offers innovative new experiences in everything players see, hear and touch.
Under the terms of the agreement, HP will pay $ 425 million, subject to customary working capital and other adjustments, to acquire HyperX’s gaming peripherals portfolio. Kingston retains the DRAM, flash and SSD products for gamers and enthusiasts. The acquisition is expected to be attractive to HP on a non-GAAP basis in the first full year following the close. The transaction is expected to be completed in the second quarter of 2021, pending the regulatory review and other ordinary closing conditions.
Over HyperX
For 18 years, HyperX’s mission has been to develop gaming solutions for every type of gamer, and the company is consistently recognized for delivering products that offer excellent convenience, aesthetics, performance and reliability. Under the ‘WE’RE ALL GAMERS’ tagline, HyperX game chapters, keyboards, mice, USB microphones and console accessories are the choice of everyday gamers, as well as renowned ambassadors, pro gamers, technology enthusiasts and overclockers worldwide, because they meet the strictest product specifications and are built with the best components in the class.
About HP
HP Inc. create technology that makes life better for everyone, everywhere. Through our product and service portfolio of custom systems, printers and 3D printing solutions, we develop amazing experiences. More information about HP Inc. is available at http://www.hp.com.
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1 Sources: VGA24 / 7, DFCint, NewZoo, Steam – https://www.wepc.com/statistics/pc-gaming/