HEWLETT-PACKARD TO ACQUIRE HYPERX FOR $425M
Hewlett-Packard Inc. (HP) has agreed to purchase the HyperX brand of gaming accessories from Kingston Technologies for $425 million.
The purchase will see the entire line of HyperX gaming accessories, both console and PC-focused, become the property of HP, increasing its footing in a market that is expected to grow to $12.2 billion by the year 2024. The deal is expected to fully execute in Q2 2021.
“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,” HP president and CEO Enrique Lores said. “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.”
HyperX joins HP’s portfolio of gaming-focused technology, including the Omen brand of gaming laptops and PCs. The press release does specify that HP is only acquiring the gaming accessories line from Kingston, which will keep its line of RAM and storage products.
Photo courtesy of HyperX