Kioxia announced that it has officially completed the acquisition of Lite-ON's SSD business and solid-state storage technology company today.

The acquisition started on August 30, 2019, when Kioxia announced a $165 million acquisition of Lite-ON's SSD business.

According to Kioxia, the acquisition includes all inventory, machinery and equipment, employee, technology, intellectual property, customer and supplier relationships related to Lite-ON's SSD brand.

Kioxia said that with the rise of digital transformation, the demand for SSD will continue to grow rapidly in the next few years. The acquisition of Lite-ON's SSD business will help Kioxia strengthen its SSD business and meet the expected market demand growth.