HP announced a “definitive agreement” to acquire Kingston Technology’s HyperX gaming brand.
HP on Wednesday officially announced a “definitive agreement” to acquire Kingston Technology’s HyperX gaming brand.
In a report on Gizchina, HP would pay USD 425 million for the purchase and it was expected to be completed by the second quarter of 2021.
For those who were unaware, HyperX was a reputed name among games as it was mainly Kingston Technology’s game accessories company.
In a press release, HP’s president and chief executive officer (CEO) Enrique Lores welcomed the subsidiary and said that the company would generate “new sources of innovation and business growth”.
HyperX offered a variety of products under the gaming segment, but the company had a big focus in the market of gaming headsets. It also offered to charge docks for PlayStation 4, Nintendo Switch, among other things, adding that it traced a path that would allow HP to enter the business.
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Kingston Technology’s chief executive John Tu explained the reason for the sale. For John, the change brought a “better future” for HyperX.
According to HP, one of the justifications for the investment was NewZoo’s projection that the global peripheral market should grow to USD 12.2 billion by 2024.
In that way, HyperX’s product portfolio – keyboards, mouses, headsets, mousepads, and USB microphones – was very attractive for the company.
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In a separate report on Gizmochina, the press release also revealed that HyperX’s parent company, Kingston Technology. would hold on to its flash, DRAM, and SSD lines designed for gamers and enthusiasts.
As per the report, the transaction was expected to be completed by the second quarter of the year 2021.
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