1.18 billion yuan! Kioxia announces completion of acquisition of Liteon SSD on July 1
Kioxia (formerly Toshiba Storage) officially announced that it will complete the acquisition of SSD business and solid-state storage technology company under Lite-On on July 1, 2020.
On August 30, 2019, Kioxia announced that it would invest USD 165 million to acquire the Lite-On SSD business, which was equivalent to RMB 1.18 billion at the time.
Lite-On is also a resounding SSD brand with high quality, but it has no place in the fierce market competition, and its shipments cannot even rank in the top ten, and became a 100% shareholder of Lite-On in 2014. the company.
As the original Toshiba storage business, although the renamed Kioxia has frequent actions and is still strong, it is also seriously lacking popularity in the consumer market, and it is also helpful for its brand building.
The acquisition of Kioxia, including all inventory, machinery and equipment, employee team, technology, intellectual property rights, customer and supplier relationships related to the Lite-On SSD brand, is equivalent to taking over.
Kioxia said that with the rise of digital transformation, the demand for SSD will continue to grow rapidly in the next few years. The acquisition of the Lite brand will help Kioxia greatly strengthen its SSD business and meet the expected market demand growth.
Kioxia emphasized that it will maintain the Lite-On SSD brand to continue operations.
On August 30, 2019, Kioxia announced that it would invest USD 165 million to acquire the Lite-On SSD business, which was equivalent to RMB 1.18 billion at the time.
Lite-On is also a resounding SSD brand with high quality, but it has no place in the fierce market competition, and its shipments cannot even rank in the top ten, and became a 100% shareholder of Lite-On in 2014. the company.
As the original Toshiba storage business, although the renamed Kioxia has frequent actions and is still strong, it is also seriously lacking popularity in the consumer market, and it is also helpful for its brand building.
The acquisition of Kioxia, including all inventory, machinery and equipment, employee team, technology, intellectual property rights, customer and supplier relationships related to the Lite-On SSD brand, is equivalent to taking over.
Kioxia said that with the rise of digital transformation, the demand for SSD will continue to grow rapidly in the next few years. The acquisition of the Lite brand will help Kioxia greatly strengthen its SSD business and meet the expected market demand growth.
Kioxia emphasized that it will maintain the Lite-On SSD brand to continue operations.