PALO ALTO, Calif., 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 drive growth in its personal systems business, where games and peripherals are attractive segments. HyperX’s award-winning product portfolio covers a variety of gaming peripherals, including headsets, keyboards, mice, mouse pads, USB microphones and console accessories.
“HyperX is a leader in peripherals whose technology is trusted by players around the world and we are excited to welcome its exceptional team to the HP family,” said Enrique Lores, President and CEO of HP Inc. “We continue to improve our leadership in Personal Systems, modernizing computing experiences and expanding in valuable surroundings. We see significant opportunities in the large and growing peripheral market, and the addition of HyperX to our portfolio will generate new sources of innovation and growth for our business ”.
PC games continue to be one of the most popular forms of video games, with the PC hardware industry estimated at $ 70 billion in 2023.1 The global peripheral market is expected to grow to $ 12.2 billion by 2024, with gaming peripherals representing a disproportionate share of that growth.
“HyperX products are designed to meet the toughest demands of all players – from casual to hardcore – giving them a competitive edge and helping them stay on top of their game,” said John Tu, co-founder and CEO from Kingston. “Both companies thrive because we focus on our employees and share the same fundamental values and culture. David Sun (co-founder and COO) and I saw the business possibilities for HyperX and its employees and we both realized that this change brings a better future for HyperX. “
HP has built a large and growing global game portfolio in recent years, led by its OMEN brand and a world-class ecosystem of hardware, software, content and services. The company continues to drive the progression in gaming with powerful devices like the OMEN 15 gaming laptop and the HP Pavilion Gaming 16 laptop. In addition to the devices, HP is driving software innovation with OMEN Gaming Hub, a destination for gamers if connect, customize and explore your equipment and games. Adding HyperX to HP’s broader gaming ecosystem will provide new, innovative 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 peripheral portfolio. Kingston will maintain DRAM, flash and SSD products for gamers and enthusiasts. The acquisition is expected to be cumulative on a non-GAAP basis for HP in the first full year after closing. The transaction is expected to close in the second quarter of 2021, pending regulatory review and other customary closing conditions.
On HyperX
For 18 years, HyperX’s mission has been to develop gaming solutions for every type of player and the company is consistently recognized for providing products that provide superior comfort, aesthetics, performance and reliability. Under the slogan “WE ARE ALL GAMERS”, HyperX gaming headsets, keyboards, mice, USB microphones and console accessories are the choice of everyday gamers, as well as celebrity ambassadors, professional gamers, technology enthusiasts and overclockers in all over the world because they meet the most stringent product specifications and are built with best-in-class components.
About HP
HP Inc. creates technology that makes life better for everyone, anywhere. Through our portfolio of products and services from personal systems, printers and 3D printing solutions, we create experiences that surprise. 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/