HP Acquires HyperX For $425 Million; How Will It Be Beneficial For HP?

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Back in February this year, HP announced its plans to acquire HyperX. The company has finalized the acquisition and is now the official owner of the Kingston Technologies gaming arm. HP has been eyeing the gaming PC hardware market for a long and this move comes as part of its initiative to developing markets.

 
HP Acquires HyperX For $425 Million; How Will It Be Beneficial For HP?

HP Officially Acquires HyperX

The past few years have seen major growth in the PC segment. The credit primarily goes to gaming and the work-from-home culture that saw a rise with the COVID-19 pandemic across the globe. HP has been one of the successful brands and the reviving PC market was an opportunity to strengthen its hold.

HP has been in talks for HyperX acquisition for the past few months. The deal has been finalised at $425 million. As per the company, the purchase price of the transaction is subject to customary working capital and other adjustments.

How Beneficial This Acquisition Will Be For HP?

This latest acquisition will help HP with better growth in the gaming peripherals department. Alex Cho, president, Personal Systems, HP Inc., said, "This acquisition further advances our ability to create the compute experiences of the future, expand into valuable adjacencies, and unlock new sources of growth."

Notably, HyperX which is a part of Kingston Technology is well known for its PC gaming accessories such as headphones, mouse, USB microphones, Keyboards, mousepads, and other console accessories.

So we can expect HP to further strengthen HyperX's portfolio going forward and bring some advanced gaming accessories. HP currently has a strong portfolio in the computer and PC segment and also in printers. But the gaming peripheral industry is where the brand is yet to get its share of success.

HP aims at the growing markets for the gaming peripherals. The company had earlier anticipated that the PC gaming peripheral industry will likely grow to $12.2 billion by 2024, while the entire PC industry will see a growth of $70 billion by 2023.

 

It appears that HP eyes a major share in the gaming peripherals going forward and not just the PC and laptop market. It is also worth mentioning that HP has just acquired the gaming division (HyperX) of Kingston Technologies. Other divisions such as storage and memory remain under the latter's umbrella.

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