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

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: 2) by legont on Tuesday September 03 2019, @02:46AM (1 child)

    by legont (4179) on Tuesday September 03 2019, @02:46AM (#889081)

    Kioku (memory) + axia (value). Looks like American owners don't believe in their national brand very much. Perhaps, it is prepared for a sale back, but likely they figured that American consumer wants Japanese with cool accent.

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  • (Score: 2) by c0lo on Tuesday September 03 2019, @03:35AM

    by c0lo (156) Subscriber Badge on Tuesday September 03 2019, @03:35AM (#889096) Journal

    Looks like American owners don't believe in their national brand very much.

    Indeed. A pity...
    ... I wonder why those Americans don't feel close to Taiwanese national values [wikipedia.org].

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