Toshiba acquires LITE-ON SSD memory business for $165m.

Toshiba Memory Holdings, a major memory manufacturer acquires SSD business of LITE-ON Technology for $165m. Toshiba Memory sees this acquisition as a way to significantly strengthen its SSD business. The transaction is expected to close by the first half of 2020 and is subject to customary closing adjustments and regulatory approval. “LITE-ON’s Solid State Drive business is a natural and strategic fit with Toshiba Memory and expands our focus in the SSD industry,” Nobuo Hayasaka, Toshiba Memory Holding President, and CEO. “This is an exciting acquisition for us, as it positions us to meet the projected growth in demand for SSDs in PCs and data centers being driven by the increased use of cloud services.”