Lite-On Technology

Toshiba Memory Holdings Corporation signed a definitive agreement to acquire the Solid State Drive (SSD) business of Taiwan's LITE-ON Technology Corporation for $165 million. The transaction is expected to close by the first half of 2020.

Lite-On Technology's board approved $210 million capital injection into Lite-On Technology Vietnam Co., Ltd. and $110 million into Lite-On Vietnam Co., Ltd. to expand production capacity for cloud computing and AI-related components.

Lite-On Technology plans to build a new plant in Europe in 2019, with production starting by 2020, to serve European clients and boost autonomous driving penetration.

Lite-On Technology is expanding production capacity for automotive electronics at plants in Mexico, China and Taiwan, and plans to build a new plant in Europe by 2019 for production by 2020.

Lite-On Technology's new plant in Changzhou, Jiangsu Province, is expected to begin trial production in March 2018, with a US$35 million investment.