Fountain Valley’s Kingston Technology Co. will become the majority shareholder in a joint venture set up with one of its Taiwanese suppliers a decade ago to make and market specialized types of memory that go into smartphones and slim, lightweight computers.
Phison Electronics Corp. (TPEx:8299) will sell its shares in the joint venture called Kingston Solutions, Inc. (KSI) to the Fountain Valley company, which announced the transaction. The deal is worth nearly 1.8 billion New Taiwan dollars, or $60.3 million.
Kingston, a maker of memory products for computers and consumer electronics, is Orange County’s largest private company. The firm, led by co-founder and chief executive John Tu, had revenue of $12.8 billion last year.
