Fountain Valley-based Kingston Technology Co. has sold a subsidiary to Shenzhen Kaifa Technology Co. Ltd. in China.
Financial terms of the deal for Payton Shenzhen Co. Ltd., which has provided Kingston with back-end wafer processing and supply chain management services since 1999, were not disclosed.
The deal still needs approvals from government regulators in China.
Kingston is the world’s largest memory products maker for computers and consumer electronics with estimated annual revenue of $5.9 billion last year.
