Mubasher: Phison Electronics will sell its shares in Kingston Solutions (KSI), a joint venture with Kingston Technology Corporation, to Kingston.
Upon the completion of the transaction, Kingston, a world leader in memory products and technology solutions, will own most of the shares in KSI, Kingston Technology Europe announced on Tuesday.
Established in 2010, the joint venture has focused on accelerating the adoption of Embedded Multi-Media Card solutions, enabling Phison and Kingston to access the market faster.
In addition, KSI benefited from Phison’s expertise in controller technology and Kingston’s proficiency in memory solutions to lead the embedded industry.
Commenting on the transaction, the CEO and chairman of Phison, K.S Pua, said: "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."
Meanwhile, the chairman of Kingston Solutions, Darwin Chen, commented: "Phison continues to be our long-term strategic technology partner as their controllers power many Kingston products including SSDs, USB drives and memory cards."