Tuesday, July 14, 2020

Phison Sells JV Shares To Kingston

Fountain Valley-based memory products giant Kingston Technology said that its partner in a joint venture, Phison, will sell the shares it owns in Kingston Solutions, Inc., which develops eMMC (Embedded Multi-Media Card) products. According to the two, the deal is worth NT$1,781,640,000, or approximately $60M. Phison and Kingstom formed KSI as a joint venture in 2010. The companie said the deal will allow Kingston to become the majority shareholder of KSI, although Phison will continue to develop technology, R&D, support, and service to Kingston.