HP has announced today an agreement to acquire the gaming brand HyperX from Kingston. This way HP gets enormous growth into the gaming peripherals segment. HyperX’s award-winning product portfolio spans a range of gaming peripherals, including headsets, keyboards, mice, mousepads, USB microphones, and console accessories. HP previously tried getting big into the gaming peripherals business with the OMEN brand but in the end, they could not compete well in the peripheral market.
PC gaming is one of the most popular forms of gaming, with the PC hardware industry anticipated being worth $70 billion by the end of 2023.
The market for peripherals is expected to grow to $12.2 billion by 2024, with the gaming peripherals market being part of a huge share of this growth.
HP OMEN brand will continue to compete with powerful devices like the OMEN 15 gaming laptop and the HP Pavilion Gaming 16 laptop. Beyond devices, HP is having innovative software with OMEN Gaming Hub, to connect, customize, and explore gears.
HyperX will be a key to improve HP’s gaming peripherals business by large and get into this very profitable and growing market.
As per the acquisition agreement, HP will pay $425 million to acquire HyperX’s gaming peripherals portfolio, Kingston will retain the DRAM, flash, and SSD products. The transaction process is expected to be completed by the end of calendar Q2 2021.