HP has announced that it will acquire HyperX, Kingston Technology Company’s gaming division, for US$425 million.
HyperX produces gaming peripherals like headsets, keyboards, mice, console accessories, and USB microphones. HP also offers gaming accessories through its Omen brand, in addition to its Omen and Pavilion Gaming laptops and desktops, but HyperX has achieved success that has been acknowledged by industry analysts like Newzoo and NPD Group. It looks like HP is seeking to give its foothold in the peripheral market a boost through this deal, with the company noting that the global peripherals market is expected to expected to have a growth of US$12.2 billion by 2024.
HP President and CEO Enrique Lores said in a press release, “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. 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.”
Meanwhile, Kingston co-founder and CEO John Tu said that “this change brings a brighter future for HyperX”.
The sale is expected to close in Q2 2021. Since the deal only covers the HyperX division, Kingston will continue producing DRAM, flash, and SSD products for the gaming and enthusiast market. Additionally, HP told The Verge that the Ngenuity companion app used in some of HyperX’s accessories will remain as they are and will not be merged into the Omen Control Center software.