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© Kioxia Business | June 06, 2022

Kioxia completes acquisition of Chubu Toshiba Engineering

Memory solutions specialist Kioxia has completed the acquisition of Chubu Toshiba Engineering Corporation.

As previously reported by Evertiq, the company entered into a share purchase agreement with Toshiba Digital Solutions Corporation (a subsidiary of Toshiba Corporation) back in February this year, in connection with the acquisition to further strengthen its technology development capabilities.

The acquisition will bring – in-house – a highly experienced engineering team while also enabling cost efficiencies, which together will improve the enterprise value of the Kioxia. The acquisition will also enhance the company'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.

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June 21 2022 3:19 pm V20.6.1-1