HP on Wednesday said it has agreed to acquire gaming accessory maker HyperX from Kingston Technology for $425 million.
"HyperX is a leader in peripherals whose technology is trusted by gamers around the world and we're thrilled to welcome their outstanding team to the HP family," said HP CEO Enrique Lores in a release, adding that the company sees " significant opportunities" in the peripherals market.
HyperX makes keyboards,and other accessories for gamers. The company's latest keyboard, , went on sale this week for $100. The 60% mechanical keyboard -- which ditches the number pad and keys like Insert, Page Up, Page Down, Home and End -- frees up desk space for mousing and offers programable per-key RGB lighting.
The PC market rebounded in 2020, growing more than 13% for the full year, after several years of decline, according to research firm IDC. This was fueled largely by demand for computers as people shifted to remote work and school amid the coronavirus pandemic, but IDC pointed out that gaming PCs and monitor sales are also at all-time highs. HP said in its release that the PC hardware industry is anticipated to be worth $70 billion by 2023, with the peripherals market expected to hit $12.2 billion by 2024.
Kingston will retain its DRAM, flash and SSD products, according to the release. The acquisition is expected to close later this year.