Back in August 2019, we heard that Kioxia and LITE-ON had entered into a share purchase agreement, with Kioxia set to acquire LITE-ONs SSD business. Today the transaction is set to be finalised.
The market for SSDs is expected to continue to rapidly expand in the coming years and Kioxia has said it hopes the acquisition of LITE-ON's SSD business will “strengthen its SSD business significantly and help meet the projected growth in demand.”
Image credit: AnandTech
“At Kioxia we are continuing to accelerate our focus on our SSD business, especially in the growing cloud computing arena,” said Nobuo Hayasaka, President and CEO of Kioxia Holding Corporation.
Nobuo continued: “This is an exciting acquisition for us. Solid State Storage Technology Corporation's excellent capabilities together with our leading flash memory and SSD technology will bring significant opportunities for synergy and enable us to further deliver value-added solutions to our customers. We will enhance our leading position in the global SSD market and work to develop new ICT infrastructure driven by AI, 5G, IoT and Cloud data centers.”
Additional information about Kioxia's acquisition of LITE-ON's SSD business can be found HERE.
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