Hewlett-Packard or HP has officially acquired Kingston Technology’s gaming brand HyperX for a sweet $425 million deal. The deal includes only the gaming peripherals portfolio of HyperX, Kingston will still keep control over the DRAM, flash, and SSD products for consumers.
The deal was first announced in February this year, and since then both Kingston and HP have been working in the background to complete the process of purchasing the award-winning gaming peripheral arm from Kingston.
In February HP had announced its plans to enter the growing markets for gaming PC hardware and peripherals. The company predicts the PC hardware industry to be worth $70 billion by 2024 and the peripherals market to grow to $12.2 billion. The acquisition of HyperX is the first step for HP to gain direct entry to gaming markets in which HyperX has already established itself.
Alex Cho, president of Personal Systems at HP said,
We are delighted to officially welcome the incredible people of HyperX to HP. HyperX has built a loyal following among gamers and we look forward to further strengthening the HyperX brand. This acquisition further advances our ability to create the computing experiences of the future, expand into valuable adjacencies, and unlock new sources of growth.
HyperX is a well-known name among gamers and the brand already has a variety of gaming peripherals that are preferred by many professionals in Esports. The brand also sponsors various tournaments, teams, players, content creators, etc which will provide HP an enormous boost in visibility for its OMEN line of gaming hardware.
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