“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,” said Enrique Lores, President and CEO, HP
Inc. “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.”
PC gaming continues to be one of the most popular forms of
video gaming, with the PC hardware industry anticipated to be worth $70 billion
by 2023.1 The global peripherals market is expected to grow to $12.2 billion by
2024, with gaming peripherals representing a disproportionate share of this
growth.
“HyperX products are designed to meet the most rigorous
demands of all gamers – from casual to the most hardcore – giving them a
winning edge and helping them stay on top of their game,” said John Tu,
Co-founder and CEO, Kingston. “Both of our companies thrive because we focus on
our employees and share the same core values and culture. David Sun (Co-founder
and COO) and I saw the possibilities for the HyperX business and its employees
and we both realized that this change brings a brighter future for HyperX.”
HP has built a large and growing global gaming portfolio in
recent years, led by its OMEN brand and a world-class ecosystem of hardware,
software, content, and services. The company continues to push progression in
gaming with powerful devices like the OMEN 15 gaming laptop and the HP Pavilion
Gaming 16 laptop. Beyond devices, HP is driving software innovation with OMEN
Gaming Hub, a destination for players to connect, customize, and explore their
gear and games. Adding HyperX to HP’s broader gaming ecosystem will deliver
innovative new experiences across everything gamers see, hear, and touch.
Under the terms of the agreement, HP will pay $425 million,
subject to customary working capital and other adjustments, to acquire HyperX’s
gaming peripherals portfolio. Kingston will retain the DRAM, flash, and SSD
products for gamers and enthusiasts. The acquisition is expected to be
accretive on a non-GAAP basis to HP in the first full year following closing.
The transaction is expected to close in calendar Q2 2021, pending regulatory
review and other customary closing conditions.
HP Inc. creates technology that makes life better for
everyone, everywhere. Through our product and service portfolio of personal
systems, printers, and 3D printing solutions, we engineer experiences that
amaze. More information about HP Inc. is available at http://www.hp.com.
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