Kingston Technology Company, Inc., a world leader in memory products and technology solutions, today announced Phison (TPEx:8299) will sell its shares in Kingston Solutions, Inc. (KSI), a joint venture with Kingston Technology Corporation, to Kingston. The transaction will enable Kingston to become the majority shareholder of KSI. Phison will continue to focus on technology and R & D; and, give Kingston the best-in-class support and service.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200714005031/en/
Kingston eMMC family (Photo: Business Wire)
In 2010, Phison and Kingston formed KSI as a joint venture to accelerate the adoption of eMMC (Embedded Multi-Media Card) solutions by easing the design-in effort and speeding up the product design cycle. This allowed both companies to bring their products to market faster. KSI leveraged Phison’s expertise in controller technology with Kingston’s operational proficiency in memory solutions to quickly become a market leader in the embedded industry.
K.S Pua, CEO and chairman of Phison, said, “Kingston is not only a long-term partner of Phison, but also one of the key enablers of Phison’s growth, our relationship remains strong and will continue. We are selling our shares in KSI to Kingston so we can focus on further developing our core technology as well as better strategize our business goals. This JV between our two companies has been very successful and served its purpose to expedite market adoption of eMMC. Phison remains committed to providing the same excellent level of technical support to KSI and its embedded memory customers as before.”
“As the industry and our businesses have grown over the past 10 years, the timing is right for this transaction. This gives Kingston more flexibility to service its diverse customer base worldwide as well as allowing for better strategies and resources alignment between KSI and its parent company, Kingston Technology,” said Darwin Chen, chairman, Kingston Solutions, Inc. “Phison continues to be our long-term strategic technology partner as their controllers power many Kingston products including SSDs, USB drives and memory cards.”
The equity transaction amounted to NT$1,781,640,000.
For more information visit kingston.com.
Kingston can be found on:
About Kingston Technology Company, Inc.
Kingston Technology Company, Inc. is a world leader in memory products and technology solutions. Through its global network of subsidiaries, affiliates and manufacturing facilities, Kingston designs, manufactures, tests and distributes DRAM, Flash and Embedded memory solutions as well as peripheral products via its HyperX gaming brand. Kingston has sales offices and representatives worldwide including in the United States, Canada, China, Europe, Eastern Europe, India, Latin America, Russia and Taiwan. For more information, please call 877-546-4786 or visit kingston.com.
Phison Electronics Corp. (TPEX:8299) is a global leader in NAND Flash controller IC and storage solutions. We provide a variety of services from controller design, system integration, IP licensing to total turnkey solutions, covering applications across SSD (PCIe/SATA/PATA), eMMC, UFS, SD and USB interfaces, reaching out to consumer, industrial and enterprise markets. As an active member of industry associations, Phison is on the Board of Directors for SDA, ONFI, UFSA and a contributor for JEDEC, PCI-SIG, MIPI, NVMe and IEEE-SA.
Editor’s Note: For additional information, evaluation units or executive interviews, please contact David Leong, Kingston Technology Company, Inc. 17600 Newhope Street, Fountain Valley, CA USA 92708, 714-438-1817 (Voice). Press images can be found in Kingston’s press room here.
Kingston and the Kingston logo are registered trademarks of Kingston Technology Corporation. IronKey is a registered trademark of Kingston Digital, Inc. All rights reserved. All trademarks are the property of their respective owners.