Toshiba Memory to Acquire Lite-On’s SSD Business

Toshiba Memory Holdings Corporation, which can rebrand as Kioxia Holdings Corporation on October 1, 2019, introduced right this moment that it has signed a definitive settlement with LITE-ON Technology Corporation to accumulate its Solid State Drive (SSD) enterprise. The buy worth is 165 million US {dollars}; the transaction is predicted to shut by the primary half of 2020 and is topic to customary closing changes and regulatory approval.

LITE-ON is a Taiwan-based provider of optoelectronics, storage, semiconductors and different gadgets. Toshiba Memory and LITE-ON share a dedication to high quality, innovation and manufacturing excellence. With cultural synergies and LITE-ON’s confirmed expertise within the SSD area for private computer systems and knowledge facilities, Toshiba Memory sees this acquisition as a solution to considerably strengthen its SSD enterprise.

“LITE-ON’s Solid State Drive business is a natural and strategic fit with Toshiba Memory and expands our focus in the SSD industry,” stated Nobuo Hayasaka, performing President and CEO of Toshiba Memory Holding Corporation. “This is an exciting acquisition for us, as it positions us to meet the projected growth in demand for SSDs in PCs and data centers being driven by the increased use of cloud services.”

Toshiba Memory will leverage LITE-ON’s main improvements to reinforce its management place within the SSD market.