Toshiba Memory Holdings Corporation’s $165 Million Acquisition of LITE-ON Technology Corporation Solid State Drive (SSD) business

In Brazil, Demarest advised on the deal

Toshiba Memory Holdings Corporation, which will rebrand as Kioxia Holdings Corporation on October 1, 2019, announced today that it has signed a definitive agreement with LITE-ON Technology Corporation to acquire its Solid State Drive (SSD) business.

The purchase price is 165 million US dollars; the transaction is expected to close by the first half of 2020 and is subject to customary closing adjustments and regulatory approval.

LITE-ON is a Taiwan-based supplier of optoelectronics, storage, semiconductors and other devices. Toshiba Memory and LITE-ON share a commitment to quality, innovation and manufacturing excellence. With cultural synergies and LITE-ON’s proven experience in the SSD field for personal computers and data centers, Toshiba Memory sees this acquisition as a way to significantly strengthen its SSD business.

In Brazil, Demarest advised Toshiba Memory Holdings Corporation (TMC) and Solid State Storage Technology Corporation with Bruno de Luca Drago (Picture) and Fabianna Barbosa Morselli.

Involved fees earner: Bruno de Luca Drago – Demarest; Fabianna Morselli – Demarest;

Law Firms: Demarest;

Clients: Kioxia Corp; LITE-ON Technology Corporation;

Author: Ambrogio Visconti.