Toshiba Memory agrees to buy SSD business

September 02, 2019 //By Peter Clarke
Toshiba Memory agrees to buy SSD business
Toshiba Memory Holdings Corp., which will rebrand as Kioxia Holdings Corp. on October 1, 2019, has agreed to acquire the solid-state drive (SSD) business of Lite-On Technology Corp. for $165 million.

Lite-On (Taipei, Taiwan) is a supplier of optoelectronics, storage, semiconductors and other devices. The SSD transaction is expected to close by the first half of 2020 and is subject to customary closing adjustments and regulatory approval.

With cultural synergies and Lite-On’s proven experience in the SSD field for personal computers and data centers, Toshiba Memory sees this acquisition as a way to significantly strengthen its SSD business.  “

"Lite-On's solid-state drive business is a natural and strategic fit with Toshiba Memory and expands our focus in the SSD industry," said Nobuo Hayasaka, acting CEO of Toshiba Memory Hold Corp. "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."

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