As the demand for SSDs continues to increase with rapid expansion expected in the coming years with the rise of digital transformation, this acquisition will allow Kioxia to strengthen its SSD business significantly and help meet the projected growth in demand.

“At Kioxia we are continuing to accelerate our focus on our SSD business, especially in the growing cloud computing arena,” said Nobuo Hayasaka, President and CEO of Kioxia Holding Corporation. “This is an exciting acquisition for us. Solid State Storage Technology Corporation’s excellent capabilities together with our leading flash memory and SSD technology will bring significant opportunities for synergy and enable us to further deliver value-added solutions to our customers. We will enhance our leading position in the global SSD market and work to develop new ICT infrastructure driven by AI, 5G, IoT and Cloud data centers.”

Kioxia plans to maintain Solid State Storage Technology Corporation’s business under its existing brands.