Kioxia Holdings Corporation, a player in memory solutions, announced that it completed the acquisition of Chubu Toshiba Engineering Corporation. The firm entered into a share purchase agreement with Toshiba Digital Solutions Corporation (Toshiba’s subsidiary) on Feb 24, 2022, in connection with the acquisition to strengthen Kioxia Group’s tech development capabilities.
What does the transaction mean to Kioxia Group?
This acquisition brings in-house a highly experienced engineering team while also enabling cost efficiencies, which together will improve the enterprise value of the Kioxia Holdings Corporation. The acquisition will enhance Kioxia’s technology development capabilities, as well as deliver synergies across the design, operation and production of its manufacturing plants.
Going forward, Chubu Toshiba Engineering Corporation will operate as a wholly owned subsidiary of Kioxia Corporation under the name of Kioxia Engineering Corporation.
Kioxia is cultivating a new era of memory with its world class solutions, as it strives towards the mission of “uplifting the world with memory”. The company remains committed to developing initiatives to strengthen the competitiveness of its memory and SSD business.