TOKYO — The memory hardware maker Kioxia Holdings Corporation is acquiring the semiconductor designer Chubu Toshiba Engineering (CTE) Corporation.
Kioxia will acquire all the shares of CTE to enhance its development capabilities, secure engineering talent, and achieve cost efficiencies, according to Kioxia last month.
The acquisition is also expected to create synergies across the design, operation, and production of its manufacturing plants, improving “enterprise value.”
The deal should be completed in the first half of 2022, following completion of the “necessary procedures.”
CTE will become a subsidiary of Kioxia.
CTE specializes in semiconductor-related hardware and software design, prototyping and evaluation.
The company is experienced in semiconductor manufacturing technologies, from development to mass production, and gained “sophisticated technical capabilities.”
In the past, CTE also provided engineering services to Kioxia.
Kioxia is working on a “new era of memory” and its mission of “uplifting the world with memory.”
The company is committed to strengthening “the competitiveness” of its memory and solid-state drive (SSD) lines.