Kingston today announced a definitive agreement to sell HyperX, its gaming division to HP Inc. The acquisition supports HP’s strategy to drive growth in its Personal Systems business, where gaming and peripherals are attractive segments. HyperX’s award-winning product portfolio spans a range of gaming peripherals, including headsets, keyboards, mice, mouse pads, USB microphones, and console accessories.
PC gaming continues to be one of the most popular forms of video gaming, with the PC hardware industry anticipated to be worth $70 billion by 2023. The global peripherals market is expected to grow to $12.2 billion by 2024, with gaming peripherals representing a disproportionate share of this growth.
HP has built a large and growing global gaming portfolio in recent years, led by its OMEN brand and a world-class ecosystem of hardware, software, content, and services. The company continues to push progression in gaming with powerful devices like the OMEN 15 gaming laptop and the HP Pavilion Gaming 16 laptop.
Beyond devices, HP is driving software innovation with OMEN Gaming Hub, a destination for players to connect, customize, and explore their gear and games. Adding HyperX to HP’s broader gaming ecosystem will deliver innovative new experiences across everything gamers see, hear, and touch.
Under the terms of the agreement, HP will pay $425M, subject to customary working capital and other adjustments, to acquire HyperX’s gaming peripherals portfolio.
Kingston will retain the DRAM, flash, and SSD products for gamers and enthusiasts. The acquisition is expected to be accretive on a non-GAAP basis to HP in the first full year following closing. The transaction is expected to close in calendar Q2 2021, pending regulatory review and other customary closing conditions.