HP Incorporation announced today that it reached a definitive agreement to purchase HyperX, the gaming hardware division of the Kingston Technology Company, for $425 million. HyperX is a popular brand in the gaming peripheral space, specializing in keyboards, mice, mousepads, microphones, headsets and more. HP’s acquisition of the brand supports its recent strategy and focus to increase its growth and market share in the personal systems business.
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HP Acquires HyperX
This is not the first stride HP has made to enter the gaming space. The company also partnered with Maingear, a boutique PC builder in 2016. Together, HP and Maingear launched the OMEN product line which includes high-end gaming PCs and laptops. Now, this HyperX acquisition will greatly bolster HP’s growing gaming network. It even includes the HP OMEN series and a more comprehensive catalog of gaming hardware, software and services.
In the press release, HP quoted that the acquisition is the result of PC gaming’s continued growth as one of the most popular video game platforms and medium. The announcement also cited that the PC hardware industry is estimated to grow to $70 billion by 2023. The global peripherals market looks to be worth $12.2 billion by 2024 with “gaming peripherals representing a disproportionate share of this growth.”
HP will pay $425 million for HyperX’s gaming peripherals portfolio. Although Kingston will retain its DRAM, flash and SSD product lines. Fans can expect the deal to complete by Q2 2021.
Written by Richard Gardner
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