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Press Releases

2020/06/30

LITE-ON Technology Announces the Transfer Closing Date of Its Solid State Drives Business Share Sale Transaction

LITE-ON Technology (2301-TW) announced today that its business transfer of Solid State Drives Business (SSD) to Kioxia Holdings Corporation will be completed by means of share sale and the closing date of the transaction is set on July 1st, 2020. The transaction involves the transfer of LITE-ON SSD business’s operations and assets, liabilities, including inventories, equipment, personnel, intellectual properties, technologies and client and supplier relationships to Kioxia Holdings Corporation. LITE-ON 2019 Extraordinary General Meeting, held on Oct. 25th, 2019, has approved to spin-off the operation and assets of LITE-ON solid state storage business to subsidiary “Solid State Storage Technology Corporation”, furthermore approved by its Board to sell 100% stake in its subsidiaries, including Solid State Storage Technology Corp. and Solid State Storage Technology USA Corporation, as well as 0.4% stake in CNEX Labs Inc. to Kioxia Holdings Corporation through a share purchase transaction. The monetary amount of the transaction is US$165mm fully in cash.

 

With the goal of maximizing the value for shareholders, clients and employees, LITE-ON continues strengthening the core technologies and competitiveness, developing towards a more efficient and profitable operation. In medium to long-term, LITE-ON will focus on business opportunities brought by cloud computing, such as power supply, server casing, network communication and other IoT applications, and the growth of opto-electronics components, as well as 5G and AIoT applications.

 

Contact:

Julia Wang

Senior Director, Investor and Public Relations

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

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