HP to Acquire VoodooPC
PALO ALTO, Calif., Sept. 28, 2006 – HP today announced it has signed a definitive agreement to acquire VoodooPC, a leader in the design and manufacture of highperformance and personalized gaming computer systems.Following the close of the transaction, HP will form a separate business unit within its Personal Systems Group focused on the gaming industry. VoodooPC co-owner Rahul Sood will become chief technologist for the unit and co-owner Ravi Sood will become the unit’s director of strategy.
Both executives will report to Phil McKinney, who will become general manager of the gaming business unit while maintaining his current role as chief technology officer of HP’s Personal Systems Group. This operational model will align the gaming business with HP’s research and development organization by providing access to the latest technologies and innovation.
Founded in 1991 and headquartered in Calgary, Alberta, Canada, VoodooPC has been dedicated to delivering leading-edge performance, style and craftsmanship to discerning PC enthusiasts. This acquisition, once closed, will extend HP’s presence into the high-performance gaming market and globally expand the reach of the VoodooPC brand.
“HP is already a market leader in two of the three major segments in the gaming market by providing industry-leading workstation solutions for game development and powering the largest online game services,” said Todd Bradley, executive vice president, Personal Systems Group, HP. “We’re absolutely thrilled to welcome VoodooPC, gaming industry pioneers and the premier name in gaming, to the HP team. Together with VoodooPC’s leadership and influence, HP will have the expertise to become the leader in the gaming customer segment.”
HP plans to maintain VoodooPC’s current distribution model and brand name along with its marketing, sales, support and development operations.
“Our passion at VoodooPC has been to design the highest performance, personalized PCs for our customers’ entertainment,” said Rahul Sood, founder and president, VoodooPC. “Customers should continue to expect the highest level of personalized configurations, service and quality. The benefits of this acquisition to VoodooPC are immense, not least of which is having a direct conduit to HP’s unparalleled innovation and international presence.”
The acquisition is expected to close by November 2006. Terms of the deal, which is subject to customary closing conditions, were not disclosed.
About VoodooPC VoodooPC is one of the world’s leading architects of highly personalized, one-of-akind, high-performance PCs. Founded on the belief that it could revolutionize the PC world with exotic designs and advanced engineering techniques typically unseen in the computer industry, VoodooPC continues to engineer well-balanced, work-of-art machines that inspire and enable individuals to reach great possibilities. For more information on VoodooPC or to customize a machine, visit www.voodoopc.com.
About HP HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended July 31, 2006, HP revenue totaled $90.0 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at www.hp.com.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of 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 the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; 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 the timing or ultimate completion of the transaction; and other risks that are described from time to time in HP’s Securities and Exchange Commission reports, including but not limited to the risks described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2006, and other reports filed after HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2005. HP assumes no obligation and does not intend to update these forward-looking statements.
