PC gaming is a big business and always growing. Some companies are taking steps to guarantee a larger piece of the pie. HP is one such company announcing plans to acquire gear maker HyperX, whose products regularly make their way onto best-of lists for gaming peripherals.
HP announced the deal on Wednesday, purchasing HyperX for $425 million. The purchase still requires regulatory approval, which will likely take several months.
A subsidiary of Kingston Technology, HyperX is well known as a source of reasonably priced quality gaming peripherals. This includes mice, keyboards, SSDs and a successful line of gaming headphones, and more. Kingston will continue to manufacture RAM, SSD, and other PC hardware, so PC gamers will not be waving goodbye just yet. However, HyperX is the corporation’s main gaming-oriented branch, and it will soon be under HP’s control.
This deal comes as no surprise to anyone aware of HP’s attempts to push into the PC gaming market. The corporation already offers a range of gaming accessories. HP’s seen the most success with its Omen brand, including both peripherals and a line of gaming PCs and laptops. The company also manufactures gaming variants of their popular Pavilion line of computers.
Meanwhile, HyperX recently revealed its new ChargePlay Duo Controller Charging Station for Xbox One and Xbox Series X controllers. Its Alloy Elite 2 Mechanical Keyboard also earned a place on Games Rant’s list of the best keyboards of 2020. HyperX’s Cloud Mix gaming headset is no slouch either.
The PC gaming hardware industry may be worth as much as $70 billion by the year 2023. HP also expects that the peripherals market alone will grow to more than $12 billion over the next few years. “We see significant opportunities in the large and growing peripherals market,” says HP’s President and CEO Enrique Lores, “and the addition of HyperX to our portfolio will drive new sources of innovation and growth for our business.” While the $12 billion estimate includes non-gaming-related hardware, gamers make up a large and growing percentage of that market.
Kingston, for its part, believes that the acquisition benefits both HyperX, its employees, and its customers. CEO and Co-founder John Tu said as much in the joint press release announcing the merger. He explains how Kingston and HP share core values such as putting customers and employees first. Of course, that final sentiment may be somewhat dubious given HP’s track record over the last few decades.
Regardless, HP’s purchase of HyperX is sure to be a significant boon for the company. Say what you will of the company’s own products, it knows how to pick a brand.
Source: HP via Globe Newswire
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