Toshiba announces the purchase of LITE-ON for a total of 165 million dollars

Toshiba Memory announced the acquisition of the company LITE-ON Technology for a total of 165 million dollars.

This summer has been particularly eventful in the memory market due to border issues and power outages. All these problems seem to have been mitigated and resolved, and haven't ultimately affected the market. Now, Toshiba Memory (Kioxia from October onwards) has just announced the acquisition of LITE-ON Technology Corporation. Specifically, the purchase was finalized for $165 million (approximately $150 million at the current exchange rate).

Possibly many are not even aware of LITE-ON, but for quite some time it was dedicated to the HDD market and then switched to SSDs with little success. It has now been acquired by Toshiba Memory, to expand its production capacity. The purchase will be closed during the first half of next year, after the corresponding regulatory approval.

Toshiba Memory acquires the LITE-ON Technology company

"LITE-ON's Solid State Drive business is a natural and strategic fit with Toshiba Memory and expands our focus on the SSD storage industry," said Nobuo Hayasaka, Acting President and CEO of Toshiba Memory Holding Corporation.

“This is an exciting acquisition for us as it positions us well to meet the projected growth in demand for SSDs for PCs and data centers driven by increased use of cloud services.

LITE-ON is an optoelectronics, storage, semiconductor and other device provider based in Taiwan. Toshiba Memory and LITE-ON share a commitment to quality, innovation, and manufacturing excellence. With cultural synergies and LITE-ON's proven experience in the field of SSDs for personal computers and data centers, Toshiba Memory sees this acquisition as a way to significantly strengthen its SSD business. "

Source: TPU