HP announces HyperX acquisition for $425 million

HP announced on Wednesday (24) a definitive agreement to acquire HyperX. For those unaware, HyperX is a reputed name among games. It is mainly a game accessories company. The company will pay $425 million for the purchase, It is expected to be completed by the second quarter of 2021.

In a press release, Enrique Lores, HP’s president and chief executive officer, welcomed the subsidiary and said the company will generate “new sources of innovation and business growth”. HyperX offers a variety of products under the gaming segment. However, the company has a big focus in the market of gaming headsets. It also offers to charge docks for PS4, Nintendo Switch among other things. It traces a path that now will allow HP to enter this business. If you’re not familiar with HyperX’s name, then you probably are familiar with Kingston, HyperX’s former parent company.

“HyperX is a leader in peripherals whose technology is trusted by players around the world. For that reason, it’s exciting to welcome your team to the HP family. We continue to enhance our leadership in Personal Systems, modernizing computing experiences and expanding them with valuable products. We see significant opportunities in the large and growing peripheral market. The new addition will make our portfolio generate new sources of innovation and growth for our business.”

John Tu, chief executive of Kingston, explained the reason for the sale. For him, the change brings a “better future” for the accessories brand.

HyperX

“HyperX products are designed to meet the toughest demands of all players – from casual to hardcore – giving them a winning edge and helping them stay on top of their game. Both companies thrive because we focus on our employees and share the same core values and culture. David Sun (co-founder and chief operating officer) and I saw the possibilities and realized that this change brings a better future for HyperX.”

According to HP, one of the justifications for the investment is NewZoo’s projection that the global peripheral market should grow to $ 12.2 billion by 2024. In this way, HyperX’s product portfolio – headsets, keyboards, mouses, mousepads, and USB microphones – was very attractive for the company. As we mentioned before, through this acquisition, HP now has a huge portfolio in this segment.

Back in January, the brand unveiled two new headsets focused on the gamer audience. The Cloud II Wireless and Cloud Revolver+ 7.1. The Cloud II Wireless is a new version of the brand’s popular accessory. The Revolver + 7.1, on the other hand, is an improved edition of its predecessor and has 7.1 virtual surround sound.

We are curious to see the direction that HyperX will take now as an HP subsidiary.

Source/VIA :

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