APPROVAL REQUIRED: The company is to sell its SSD unit, including equipment, workers, intellectual property, technology and inventories, to Toshiba Memory

Taipei Times
Date: Aug 31, 2019
By: Natasha Li  /  Staff reporter

Electronic components supplier Lite-On Technology Corp (光寶科技) yesterday said that its board of directors has approved the sale of its solid state drives (SSD) business to Toshiba Memory Holdings Corp for US$165 million.

Toshiba Memory, which is 40 percent owned by Toshiba Corp, is the world’s second-largest supplier of NAND flash memory chips.

SSD is a storage device used in consumer electronics, and enterprise and industrial equipment that is based on semiconductor NAND flash memory that Toshiba developed in 1987.

The transaction includes the operations and assets of Lite-On’s storage unit, with equipment, workers, intellectual property, technology, client and supplier relationships and inventories, Lite-On said.    [FULL  STORY]