Taiwan’s Phison Electronics to buy 49% stake in Sony’s memory storage solutions arm Nextorage

19, Jun. 2020

flash-memory-1306886_1280.jpg

TAIPEI, NNA – Taiwan's major NAND flash controller and application provider Phison Electronics Corp. will acquire a 49 percent stake in a memory storage solutions arm of Sony Corp. as it seeks to gain expertise in high-end processing technology amid the growing number of images and videos posted online globally.

The Taiwanese firm said Thursday in a statement that it will buy the shares for an undisclosed sum in Nextorage Corp., a subsidiary of SONY Storage Media Solutions Corp., which will retain a 51 percent stake in the subsidiary.

Nextorage, an imaging memory and industrial application storage maker, was established last October after it succeeded the memory storage business of the major Japanese electronics group.

The Hsinchu-based Phison has annually shipped over 600 million controllers globally and topped $1.3 billion in sales, according to the company.