HP Inc has reached an agreement to acquire HyperX, Kingston Technology Company’s gaming division, for $425 million.
HP will acquire the HyperX brand from Kingston, but notes that “Kingston will retain the DRAM, flash, and SSD products for gamers and enthusiasts.”
The transaction is expected to close in calendar Q2 2021, pending regulatory review and other customary closing conditions.
The acquisition is intended to help grow HP’s Personal Systems business, in which gaming and peripherals are attractive segments.
“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.”
HP has been moving into the gaming peripheral space over the last few years, though has been unable to gain much traction against the likes of Corsair, Logitech, and Razer. This acquisition of HyperX, along with their gaming headsets, keyboards, mice, USB microphones, and console accessories will no doubt help in these efforts.