The personal computing giant, HP has announced to acquire the popular gaming brand HyperX this year. The deal is worth $425 million and is scheduled to complete by the second quarter of 2021. HyperX is now under the Kingston and is specialized in making gaming accessories like mice, headphones, USB microphones, keyboards, and mouse pads.
HP to Acquire HyperX
The rise of the personal computing industry has pulled the gaming industry along with it. There are millions of PC gamers today playing thousands of games actively and are investing thousands of dollars each to have a better experience. Making their dreams come true are the brands like HyperX, which makes gaming peripherals handle the toughness of gamers.
Though the company makes multiple accessories, it’s focused much on headsets, which are also liked by most of the gamers for their quality build and audio output. It has even released two new headsets last month, the Cloud II Wireless and Cloud Revolver+ 7.1. And being acquired by HP means it will have access to its widest market for better growth and innovation.
As said by Enrique Lores, HP’s president and CEO, acquiring HyperX will generate “new sources of innovation and business growth. 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.”
His statement was backed by John Tu, chief executive of Kingston (current parent of HyperX). He said the reason for selling it to HP is to bring a “better future” to it. Further, “Both companies thrive because we focus on our employees and share the same core values and culture.”
Also, a report by NewZoo revealed that the peripherals market would grow to be valued at 12.2 billion by 2024, making it another reason to prompt HP into buying the HyperX.