TOKYO — Kioxia Holdings Corporation, the world leader in memory solutions, announced today that it expects to complete its acquisition of LITE-ON Technology Corporation’s Solid State Drive (SSD) business, Solid State Storage Technology Corporation and its affiliated companies on July 1, 2020. The company entered into a share purchase agreement on August 30, 2019 in connection with the acquisition. Both parties are now following the necessary procedures in order to close the transaction on July 1, 2020.

As the demand for SSDs continues to increase with rapid expansion expected in the coming years with the rise of digital transformation, this acquisition will allow Kioxia to strengthen its SSD business significantly and help meet the projected growth in demand.

“At Kioxia we are continuing to accelerate our focus on our SSD business, especially in the growing cloud computing arena,” said Nobuo Hayasaka, President and CEO of…

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