HP Buys HyperX In US$425 Million Gaming Push
HP, which has been desperate to compete with the likes of Alienware, Acer, and a surging Lenovo in the gaming market, has snapped up Kingston’s gaming peripherals brand HyperX for close to half a billion dollars.
HyperX products including headsets, keyboards, mice, mouse pads, USB microphones, and console accessories will now be sold by HP alongside its own Omen gaming computers. The deal is worth $425 million USD, or $533 million AUD.
Enrique Lores, President and CEO, HP, hyped up the purchase, describing HyperX as a trusted leader in gaming peripherals.
“We continue to advance our leadership in Personal Systems by modernising 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,” he said.
According to John Tu, Co-founder and CEO, Kingston, the move was a natural fit for HyperX, which he bills as designed to meet gamers’ most rigorous demands.
“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,” he said.
HP faces stiff competition in the gaming market from a number of other brands, such as Dell’s Alienware, Acer’s Predator range, Lenovo’s Legion range, and specialists like MSI. The global peripherals market is expected to hit $12.2 billion USD by 2024, with gaming making up a large chunk of this growth.
Kingston will retain its DRAM, flash, and SSD product portfolio for gamers and enthusiasts.