HP has agreed to buy HyperX, the gaming division from Kingston Technology, a leader in memory products and technology solutions, for $425 million.
Kingston will retain the DRAM, flash, and SSD products for gamers and enthusiasts.
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.
Enrique Lores, president and CEO, HP, 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.”
PC gaming is one of the most popular forms of video gaming, with the PC hardware industry anticipated to be worth $70 billion by 2023. The global peripherals market is expected to grow to $12.2 billion by 2024, with gaming peripherals representing a disproportionate share of this growth.
HP has built a growing gaming portfolio in recent years, led by its OMEN brand and an ecosystem of hardware, software, content, and services. The company continues to push progression in gaming with powerful devices like the OMEN 15 gaming laptop and the HP Pavilion Gaming 16 laptop.
Beyond devices, HP is driving software innovation with OMEN Gaming Hub, a destination for players to connect, customize, and explore their gear and games. Adding HyperX to HP’s gaming ecosystem will deliver innovative experiences across everything gamers see, hear, and touch.
HP announced that 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.
