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Toshiba Memory Picks Up Lite-On SSD Business in $165 Million Deal

posted by janrinok on Tuesday September 03 2019, @02:28AM   Printer-friendly

upstart writes:

Submitted via IRC for Bytram

Toshiba Memory picks up Lite-On SSD business in $165 million deal

The company soon to be known as Kioxia, currently still referred to as Toshiba Memory Holdings, has announced it will purchase the SSD business of Lite-On for $165 million.

In a statement, Toshiba Memory said the deal is expected to close in the first half of 2020, however local media were more specific and said the deal would close in April. In the 2018 fiscal year, Lite-On reported revenue of NT$207 billion, approximately $6.6 billion.

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

"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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  • (Score: 0) by Anonymous Coward on Tuesday September 03 2019, @02:34AM (3 children)

    by Anonymous Coward on Tuesday September 03 2019, @02:34AM (#889073)

    Corporations are people

  • (Score: 0) by Anonymous Coward on Tuesday September 03 2019, @03:09AM (1 child)

    by Anonymous Coward on Tuesday September 03 2019, @03:09AM (#889087)

    Better, healthier, and more productive people than you.

    • (Score: 0) by Anonymous Coward on Tuesday September 03 2019, @03:34AM

      by Anonymous Coward on Tuesday September 03 2019, @03:34AM (#889095)

      Well, yes. Corporations never die, never get sick, and always generate revenue.

      It's so beautiful when the news reports a corporate merger. It's like a mass marriage of so many human resources, with all the stakeholders and shareholders to benefit, it's just a beautiful thing to behold.

  • (Score: 2) by takyon on Tuesday September 03 2019, @03:45AM

    by takyon (881) <takyonNO@SPAMsoylentnews.org> on Tuesday September 03 2019, @03:45AM (#889099) Journal

    Have some more:

    https://soylentnews.org/search.pl?tid=12 [soylentnews.org]

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