Toshiba Memory Acquires Taiwan's Lite-On Technology SSD Business for $165 Million... Finalization Expected in Q1 2020

Toshiba Memory announced on August 30 that it has signed an agreement to acquire Lite-On Technology's SSD business unit.
The purchase price is US$165 million, and the transaction will be closed in the first quarter of 2020. Currently, only customary settlement adjustments and regulatory approvals remain.

Liteon is a Taiwan-based computer storage device manufacturer with extensive experience in manufacturing SSDs used in PCs and data centers.

Toshiba Memory believes that this acquisition will significantly strengthen its SSD business division.

Nobuo Hayasaka, Acting President and CEO of Toshiba Memory, stated, “LiteOn’s SSD business unit is a strategic fit for Toshiba Memory,” adding that it enables the company to focus even more on its SSD business.

"Furthermore, as the use of cloud services increases significantly, the demand for SSDs in PCs and data centers is rising," they stated, adding, "The acquisition of Lite-On in line with market trends will provide dynamic opportunities for Toshiba Memory."

Meanwhile, Toshiba Memory changed its name to 'Kioxia Holdings Corporation' as of October 2019.