Fountain Valley-based computer memory products maker Kingston Technology Inc. is selling its gaming division to computer and printer giant HP Inc. for $425 million, according to a statement today.
HyperX’s product portfolio spans a range of what are known as “gaming peripherals,” including headsets, keyboards, mice, mouse pads, USB microphones, and console accessories.
“The acquisition supports HP’s strategy to drive growth in its personal systems business, where gaming and peripherals are attractive segments,” Kingston said in the statement.
Under the terms of the agreement, HP will pay $425 million, subject to customary working capital and other adjustments, to acquire HyperX’s gaming peripherals portfolio. Kingston will retain the DRAM, flash, and SSD products for gamers and enthusiasts, according to the statement.
The transaction is expected to close in the second quarter, pending regulatory review and other customary closing conditions.
