HP announced they have officially reached an agreement to acquire HyperX from Kingston Technology Company. HP stated that the acquisition is a part of their strategy to grow in the ever-popular gaming and peripherals segment.
“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.”
Enrique Lores, President and CEO, HP Inc.
The acquisition will help HP expand their ever growing gaming focus. The current gaming lineup is lead by their established Omen division of computers and software. HP expects that by 2024, not only will the PC hardware industry be worth over $70 billion, but gaming peripherals alone will account for $12 billion of that market. HP hopes that by adding HyperX peripherals to the company, they can exponentially grow their gaming footprint.
While regulatory reviews are still underway, the $420 million acquisition is expected to complete by the end of Q2. Kingston Technology Inc. will retain their product lines related to gaming and enthusiast DRAM, flash, and SSD products.
