HP Inc. to Acquire HyperX
February 24 2021 - 8:35AM
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 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 whose technology is trusted
by gamers around the world and we’re thrilled to welcome their
outstanding team to the HP family,” said Enrique Lores, President
and CEO, HP Inc. “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 $70
billion by 2023.1 The global peripherals market is expected to grow
to $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,” said 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.”
HP has built a large and growing global gaming portfolio in
recent years, led by its OMEN brand and a world-class 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 broader gaming ecosystem will
deliver innovative new experiences across everything gamers 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 will retain
the DRAM, flash, and SSD products for gamers and enthusiasts. 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, pending regulatory review
and other customary closing conditions.
About HyperXFor 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 provide superior comfort, aesthetics,
performance, and reliability. Under the tagline of “WE’RE ALL
GAMERS,” HyperX gaming headsets, keyboards, mice, USB microphones,
and console accessories are the choice of everyday gamers as well
as celebrity ambassadors, pro gamers, tech enthusiasts, and
overclockers worldwide because they meet the most stringent product
specifications and are built with best-in-class components.
About HPHP Inc. creates technology that makes
life better for everyone, everywhere. Through our product and
service portfolio of personal systems, printers, and 3D printing
solutions, we engineer experiences that amaze. 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/
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