Kioxia Announces Completion Of Lite-On's SSD Business Acquisition

Kioxia (formerly Toshiba Storage) officially announced that it will complete the Solid-State Drive (SSD) business under Lite-On, Solid State Storage Technology Corporation and its subsidiaries (hereinafter referred to as: Lite-On SSD) acquisition.

On August 30 last year, Kioxia had signed a definitive agreement with Lite-On for the acquisition of Lite-On SSD business. The purchase price is 165 million US dollars. According to the original plan, the transaction is expected to be completed in the first half of this year, and the market will be adjusted and supervised according to the usual practice.

The acquired Solid State Storage Technology Corporation is a subsidiary of Lite-On Technology, dedicated to the development, manufacturing and sales of data storage products, providing customers with the most reliable and high-quality Solid State Drive, SSD products.

According to the data, Solid State Storage Technology Corporation became independent in March 1999, focusing on the information technology of the optical storage business. In 2002, it became the world's third-largest optical storage product manufacturer, ranking the world's leading position in consumer electronics In November 2004, it was officially listed on the Taiwan Stock Exchange. In 2014, it became a wholly-owned subsidiary of Lite-On. By 2009, began to develop solid-state hard drives. However, due to fierce market competition, it was incorporated into Lite-On in 2014, with Lite-On Technology as the surviving company.

As the original Toshiba storage business, although the renamed Kioxia has frequent movements and is still strong, it also has a serious lack of visibility in the consumer market, and the addition of Lite-On also helps its brand building. The completion of this acquisition means that Kioxia will take over all inventory, machinery and equipment, employee team, technology, intellectual property, customer and supplier relationships related to the Lite-On SSD brand.

Kioxia said that with the rise of digital transformation, the market's demand for SSDs continues to grow and is expected to expand rapidly in the next few years. This acquisition will enable Kioxia to greatly enhance its SSD business and help meet the expected demand growth.

Kioxia President and CEO Nobuo Hayasaka said: "At Kioxia, we will continue to focus on the SSD business, especially in the evolving cloud computing field." "This is an exciting acquisition for us. Liteon Storage The outstanding capabilities of technology companies and our leading flash and SSD technologies will bring huge opportunities for synergies and enable us to further provide value-added solutions to our customers. We will strengthen our leading position in the global SSD market and devote ourselves to development New ICT infrastructure driven by AI, 5G, IoT and cloud data centers."