Phison Electronics, a Taiwan-based flash controller, plans to acquire a 49% stake in Nextorage, a subsidiary of Sony Storage Media Solutions (SSMS). The transaction amount is unknown.
According to Phison, Nextorage’s acquisition will be part of Phison’s partnership with Sony to develop high-quality image storage products for the Japanese market.
The purchase is made in the context of an increase in the number of digital images created by users and growing demand from those who shoot video for online services, including YouTube.
“This is the long-term win-win collaboration model Phison adheres to,” the Taiwanese manufacturer describes the deal. “The SSMS team will lead the work and strategic direction of Nextorage, while Phison supports technology development and system integration.”
As usual in such cases, Phison’s planned investment in Nextorage should be agreed with the regulatory authorities.
Nextorage, which is part of the Sony group of companies, was established in October 2019.