Laptop, PC and peripheral manufacturer HP has completed its acquisition of HyperX, the gaming division of Kingston Technology. HP is expanding into the gaming market with this deal that is valued at $425 million.
With this acquisition, HP is tapping into the gaming peripherals segment- keyboards, headsets, and mice. Kingston will retain its gaming market focused on computer memory and storage products. In their official release, HP said that the acquisition is expected to increase its profits on a non-GAAP basis in the first full year following closing.
“We are delighted to officially welcome the incredible people of HyperX to HP. HyperX has built a loyal following among gamers and we look forward to further strengthening the HyperX brand,” said Alex Cho, president, Personal Systems, HP Inc. “This acquisition further advances our ability to create the compute experiences of the future, expand into valuable adjacencies, and unlock new sources of growth.”
Kingston Technologies will no longer use the HyperX branding. The company has manufactured mice, headsets, and keyboards of the highest standards, and they are preferred by gamers worldwide. Following this acquisition, gamers will get their gaming peripherals under a new name, but hopefully, with the same, if not better quality.
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