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HP to acquire HyperX in a $425 million
HP Inc. has entered into a definitive agreement to acquire HyperX, the gaming division of Kingston Technology Company, for USD 425 million.
The acquisition supports HP’s strategy to drive growth in its Personal Systems business, where gaming and peripherals are attractive segments. HyperX’s 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 whose technology is trusted by gamers around the world and we’re thrilled to welcome their outstanding team to the HP family,” says Enrique Lores, President and CEO, HP Inc., in a press release. “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.” PC gaming continues to be one of the most popular forms of video gaming, with the PC hardware industry anticipated to be worth USD 70 billion by 2023. The global peripherals market is expected to grow to USD 12.2 billion by 2024, with gaming peripherals representing a disproportionate share of this growth. “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,” says 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.” Under the terms of the agreement, HP will pay USD 425 million to acquire HyperX’s gaming peripherals portfolio. Kingston will retain the DRAM, flash, and SSD products for gamers and enthusiasts. The transaction is expected to close in calendar Q2 2021, pending regulatory review and other customary closing conditions.
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