HP buys Kingston's gaming brand HyperX, for $425 million

HP has announced that it has reached an agreement with Kingston Technology to acquire its HyperX gaming division in order to grow its own PC business for $425 million. The move is expected to increase HP’s and push it ahead of rivals without the same access to the division’s technology.

However, Kingston will not transfer its storage and memory business over to HP, while the latter will gain access to HyperX’s accessories for not only consoles but also for PCs such as keyboards, mice, headsets and microphones. The acquisition is expected to be completed in the second quarter of this year - but will be subject to regulators approval and other legal requirements.

Also read: HP’s new Pavilion laptops feature speaker housing made of ocean-bound plastics, Intel 11th-gen SoC

HP said in a statement that the PC hardware industry was expected to grow to $70 billion by 2023 and that the global gaming peripherals market was expected to be worth $12.2 billion by 2024. The company expects gaming peripherals to make up a “disproportionate share” of this growth.

HP has announced that it has reached an agreement with Kingston Technology to acquire its HyperX gaming division in order to grow its own PC business for $425 million. The move is expected to increase HP’s and push it ahead of rivals without the same access to the division’s technology.

However, Kingston will not transfer its storage and memory business over to HP, while the latter will gain access to HyperX’s accessories for not only consoles but also for PCs such as keyboards, mice, headsets and microphones. The acquisition is expected to be completed in the second quarter of this year - but will be subject to regulators approval and other legal requirements.

Also read: HP’s new Pavilion laptops feature speaker housing made of ocean-bound plastics, Intel 11th-gen SoC

HP said in a statement that the PC hardware industry was expected to grow to $70 billion by 2023 and that the global gaming peripherals market was expected to be worth $12.2 billion by 2024. The company expects gaming peripherals to make up a “disproportionate share” of this growth.|#+|

As Engadget points out, the acquisition of HyperX will help HP’s computer division, even as the rest of the computer peripherals world has begun seeing increasing mergers and acquisitions - from companies like Corsair who has recently acquired Origin PC and Scuf. Corsair, which also makes memory components like Kingston’s HyperX will now compete on a larger scale with Intel.

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“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,” said Enrique Lores, HP’s president and CEO.