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HP Inc. Completes Acquisition of HyperX

Written by Customer Service on . Posted in Mergers And Acquisitions.

PALO ALTO, Calif., June 01, 2021 (GLOBE NEWSWIRE) — HP Inc. (NYSE: HPQ) today announced the completion of its acquisition of HyperX, the gaming division of Kingston Technology Company.

The acquisition supports 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.”

HyperX’s award-winning product portfolio spans a range of gaming peripherals, including headsets, keyboards, mice, mouse pads, USB microphones, and console accessories.

As previously announced, the purchase price of the transaction was $425 million. The acquisition is expected to be accretive on a non-GAAP basis to HP in the first full year following closing.

About HP
HP Inc. creates technology that makes life better for everyone, everywhere. Through our product and service portfolio of personal systems, printers, and 3D printing solutions, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Any such statements involve risks, uncertainties, and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP Inc. (“HP”) and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements of the plans, strategies, and objectives of HP for future operations; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties, and assumptions include the possibility that expected benefits may not materialize as expected; risks related to hiring and retaining key employees; and other risks that are described in HP’s SEC reports, including but not limited to the risks described in HP’s Annual Report on Form 10-K for its fiscal year ended October 31, 2020 and HP’s other filings with the Securities and Exchange Commission. HP assumes no obligation and does not intend to update these forward-looking statements.

HP’s Investor Relations website at investor.hp.com contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated, and new information is posted.

HP Inc. Media Relations
MediaRelations@hp.com

HP Inc. Investor Relations
InvestorRelations@hp.com

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