Phison to Sell Shares in Joint Venture to Kingston Technology
Kingston Technology Europe Co LLP, an associate of Kingston Technology Company, Inc, a world leader in memory products and technology solutions, today, declared Phison (TPEx:8299) would sell its shares in Kingston Solutions, Inc (KSI), a joint venture with Kingston Technology Corporation, to Kingston.
The deal will enable Kingston to become the majority shareholder of KSI.
Phison will proceed to focus on technology, Research and development, give Kingston the best-in-class help and service.
In 2010, Phison and Kingston formed KSI as a joint venture to stimulate the adoption of eMMC (Embedded Multi-Media Card) solutions by reducing the design-in effort and advancing up the product design cycle.
This allowed both companies to bring their products to market faster.
KSI leveraged Phisons expertise in controller technology with Kingstons operational knowledge in-memory solutions to promptly 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 critical enablers of Phisons growth, our relationship remains healthy 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 J.V. 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.
