Kingston Technology Europe Ltd., a subsidiary of Kingston Technology, a global leader in the manufacture of electronic memory products and technical solutions, announced yesterday a final agreement to sell its HyperX electronic games division to HP.
Kiev. Ukraine. Ukraine Gate – February 25, 2021 – Technology
Note that this acquisition supports the latter’s strategy to boost the growth of its personal systems business, especially since electronic games and accessories are considered an attractive field. The award-winning portfolio of HyperX products includes a wide range of gaming accessories (peripherals) that include headphones, keyboards, mice, pads, USB microphones, and console accessories.
On this occasion, Enrique Lloris, President, and CEO of HP said: “HyperX has a pioneering role in making the accessories (peripherals) they trust and the technology behind gaming enthusiasts from around the world, and we are very pleased to welcome the HyperX team. Within the HP family. This step comes within the context of our strategy to enhance our leadership position in the field of personal systems, by updating computer experiences and expanding in the related fields. We see significant opportunities in the accessories market that continues to grow, and adding HyperX to our portfolio will drive new resources for innovation and growth for our business.”
Computer games are still among the most popular types of electronic games, as the personal computer sector is expected to grow to reach $ 70 billion by 2023, and the global accessories market is expected to grow rapidly to reach $ 12.2 billion by 2024. Especially since accessories have acquired a relatively large share in the context of this growth.
John Toe, Co-Founder and CEO, Kingston said: “HyperX products are designed to meet the advanced requirements of gaming enthusiasts of all levels, giving them a decisive advantage and helping them maintain their leading position. The secret of HyperX and Kingston’s success is due to our constant focus on our people, our core values , and our corporate confidence. And David Sane (Co-Founder and COO) saw the opportunities available to HyperX’s business and its employees, and we both understood that this change would bring a bright future for HyperX.
HP has succeeded in recent years in building an electronic gaming portfolio at the highest international levels and continues to grow in this sector, with a focus on its brand or supported by a world-class system of hardware, software, content, and services. The company continues to advance the world of electronic games thanks to its powerful hardware, such as the OMEN 15 portable computer for electronic games and the HP Pavilion Gaming 16. HP is also pushing the wheel of innovation on the software level, relying on the Omen Center for electronic games, which is a destination for gaming enthusiasts. Electronic equipment so that they can communicate, choose the modifications they want, and explore their equipment and games. The addition of HyperX to HP’s vast array of electronic games provides innovative new experiences that include everything that electronic gaming enthusiasts see, hear and feel. It is noteworthy that HP will pay under the agreement an amount of $ 425 million, subject to working capital and other adjustments, in order to acquire the HyperX electronic gaming accessories portfolio. However, Kingston will retain its dynamic random-access memory, external memory, and solid-state disk products to meet the requirements of electronic game enthusiasts. It is expected that the acquisition will be cumulative and outside the scope of general accounting principles in favor of HP during the first year of the completion of the deal, which is supposed to happen during the second half of 2021, provided that the organizational review and other conditions for completing the transactions are customary.
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Source: Ukrgate
