Back in February this year, HP surprisingly announced the acquisition of the gaming accessories brands HyperX from Kingston. However, HP could only use the gaming peripherals, most notably, Alloy Origins keyboard and Cloud series of headsets under this acquisition.
This means HP doesn’t have any control over Kingston Technology backed HyperX’s SSD memory hardware, DRAM, and flash memory. The company “has rights to use the HyperX brand for memory products for an undisclosed amount of time,” it says.
“We will then transition the DRAM and flash products from HyperX to a different brand, which will be announced at a later time,” HP says more details will be shared after the deal closes at the time of this acquisition’s first announcement.
A few days back HP made this $425 million deal complete and have officially welcomed to HP’s already popular Omen brand, HP’s existing PC gaming division. The acquisition is said to support HP’s strategy to drive growth in its Personal Systems business, where gaming and peripherals are attractive segments.
“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.”
As per the blog announcement, the purchase price of the transaction was $425 million, subject to customary working capital and other adjustments. The acquisition is expected to be accretive on a non-GAAP basis to HP in the first full year following closing.
