HP is buying HyperX for $425 million
HP has confirmed that is is buying HyoerX, the gaming division of Kingston, for $425 million. Kingston will retain the DRAM, flash, and SSD products segment. The transaction is expected to close by second-quarter of 2021.
“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 HP CEO Enrique Lores in a release.
Also see: Gaming Zone
The PC gaming hardware market is growing and is expected to reach $70 billion by 2023. PC peripherals market is also expected to $12.2 billion by 2024. Gaming accounts for 37% of the US and 53% in China peripherals market. This shows why HP is investing in HyperX. HyperX is a notable brand for gaming Headsets, Mouse, Mouse Pads, Keyboards, and other accessories.
HP already sells gaming laptops, PCs, and peripherals under Omen and Pavilion brands, but isn’t the preferred choice of gamers. So, the company has decided to acquire an already popular brand to reach gamers. This deal will also help HP to retain a pie of the growing PC gaming market.