Kingston Sells HyperX Gaming Division to HP Inc. for $425M
upstart writes in with an IRC submission:
Kingston Sells HyperX Gaming Division to HP Inc. for $425M:
Off the top, a news item Feb. 24 entitled "Kingston Technology to Sell HyperX Gaming Division to HP Inc." makes it look like HP Inc. is jumping headlong into the gaming business. While this is not exactly true, because HP has long been in that business, it is indicative of much more than that.
Indeed, Fountain Valley, Calif.-based Kingston Technology, a market leader in memory products and various technology solutions, announced the agreement to sell HyperX, its gaming division, to HP Inc. for $425 million in cash. The acquisition will help enable HP's strategy to drive growth in its Personal Systems business, where gaming and peripherals are highly profitable segments.
Kingston will retain its DRAM (dynamic RAM), flash and SSD (solid-state disk) products for gamers and enthusiasts. The acquisition is expected to close in calendar Q2 2021.
[...] "Both of our companies thrive because we focus on our employees and share the same core values and culture," John Tu, Kingston co-founder and CEO, said in a media advisory. "David Sun (Co-founder and COO) and I saw the possibilities for the HyperX business and its employees and we both realized that this change brings a brighter future for HyperX."
Also at The Verge, Engadget and AnanTech
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