Press Releases

2020/03/31

LITE-ON Technology Announces the Deferral of its Solid State Drives Business Transfer

LITE-ON Technology (2301-TW) announced today that the transfer of its Solid State Drives Business to Kioxia Holdings Corporation will be deferred due to the unfinished integration works caused by the coronavirus (COVID-19) outbreak. The closing date of the transfer will be therefore postponed from the original target date April 1st, 2020, after the good-faith discussions between Kioxia Holdings Corporation and LITE-ON Technology. LITE-ON Technology does not expect any adverse impact to the SSD operations will be caused by the deferral of the closing date.

 

LITE-ON Technology Board has approved the transfer of the company’s Solid State Drives (SSD) Business to Kioxia Holdings Corporation through a share purchase transaction on Aug 30, 2019. The transaction involves the transfer of LITE-ON SSD business’s operations and assets, including inventories, equipment, personnel, intellectual properties, technologies and client and supplier relationships. The transaction value was tentatively set as US$165mm, to be fully paid in cash.

 

The SSD business started as a business unit under LITE-ON in 1995. It started PC SSD business in 2008 and cloud data center SSD development in 2014, and has become a leading developer and manufacturer of highly customized ready-to-use SSD for both enterprise and client PC applications with highly recognized customer base throughout America, Europe and Asia.

 

 

Contact:

Julia Wang

Senior Director, Investor and Public Relations

Tel: +886-2-8798-2888    LITEONTech.IR@liteon.com

 

Top