Kioxia Completes Acquisition of Lite-On SSD Business On July 1

Founded: December 2019
HQs: Taipei, Taiwan
Chairman and CEO: Charlie Tseng (effective on July 1, 2020)

Kioxia Holdings Corporation expects to complete its acquisition of Lite-On Technology Corporation‘s SSD business, Solid State Storage Technology Corporation (SSSTC) and its affiliated companies on July 1, 2020.

SSSTC milestones
Kioxia Completes Acquisition Lite On Ssd

The company entered into a share purchase agreement on August 30, 2019 in connection with the acquisition. Both parties are now following the necessary procedures in order to close the transaction on July 1, 2020.

As the demand for SSDs continues to increase with expansion expected in the coming years with the rise of digital transformation, this acquisition will allow Kioxia to strengthen its SSD business and help meet the projected growth in demand.

“At Kioxia we are continuing to accelerate our focu on our SSD business, especially in the growing cloud computing arena,” said Nobuo Hayasaka, president and CEO, Kioxia. “This is an exciting acquisition for us. SSSTC’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.“

Kioxia plans to maintain SSSTC’s business under its existing brands.

About SSSTC