NYSE-listed information technology company HP announced that it has completed its acquisition of gaming peripherals brand HyperX. The company paid HyperX’s previous parent company Kingston Technology an acquisition compensation of $425M USD. Kingston will retain its gaming market-focused computer memory and storage products.
HP, which has built its own gaming brand – OMEN by HP – in recent years, stated that the HyperX acquisition “supports its strategy to drive growth in its personal systems business, where gaming and peripherals are attractive segments.”
The company anticipates the acquisition to increase its profits (on a non-GAAP basis) in the first full year following the closing of the acquisition.
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