Kaifa Technology to acquire Kingston subsidiary Payton Technology

Kaifa will assume a 100-percent equity stake in Payton. The agreement and transfer of equity will be complete once all of the relevant Chinese government agencies provide final approval. Since 1999, Payton has provided back-end wafer processing capabilities and supply chain management for Kingston. As an equity transfer, there are no changes planned at this time to Payton Shenzhen’s operational management. The company will continue to operate as it has in the past and Kingston will continue to assist Payton in most major aspects of its business. "The agreement allows Payton to grow its business within China through attracting local customers and possible future capital injections. Both Kingston and Kaifa look forward to continuing their strong relationship once the agreement is complete," the companies state in a press release.