LITE-ON, also known for (Plextor issued a statement in which it mentions the transfer of its Solid State Drives Business to Kioxia Holdings Corporation (Previously Toshiba) will be deferred due to the unfinished integration works caused by the coronavirus (COVID-19) outbreak.

The closing date of the transfer will be therefore postponed from the original target date April 1st, 2020, after the good-faith discussions between Kioxia Holdings Corporation and LITE-ON Technology. LITE-ON Technology does not expect any adverse impact to the SSD operations will be caused by the deferral of the closing date.

LITE-ON Technology Board has approved the transfer of the company’s Solid State Drives (SSD) Business to Kioxia Holdings Corporation through a share purchase transaction on Aug 30, 2019. The transaction involves the transfer of LITE-ON SSD business’s operations and assets, including inventories, equipment, personnel, intellectual properties, technologies and client and supplier relationships. The transaction value was tentatively set as US$165mm, to be fully paid in cash.