FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--Kingston Technology Company, Inc., the independent world leader in memory products, today announced its fully-owned subsidiary, Payton Shenzhen Co., Ltd. (a.k.a. Payton Technology), will be acquired by Shenzhen Kaifa Technology Co., Ltd. (a.k.a. Kaifa Technology). Kaifa will assume a 100-percent equity stake in Payton. The agreement and transfer of equity will be complete once all of the relevant Chinese government agencies provide final approval.
Since 1999, Payton has provided back-end wafer processing capabilities and supply chain management for Kingston. As an equity transfer, there are no changes planned at this time to Payton Shenzhen’s operational management. The company will continue to operate as it has in the past and Kingston will continue to assist Payton in most major aspects of its business.
The deal allows Payton to expand its efforts into wider areas for semiconductor packaging and testing as the computer industry changes and expands in new directions. The agreement allows Payton to grow its business within China through attracting local customers and possible future capital injections. Both Kingston and Kaifa look forward to continuing their strong relationship once the agreement is complete.
Since 1985, Kaifa has provided full turnkey manufacturing services including research and development, production and distribution to its ODM and OEM customers. Kaifa is listed on the Shenzhen Stock Exchange (000021SZ). More information on Kaifa can be found here.
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About Kingston Technology Company, Inc.
Kingston Technology Company, Inc. is the world’s largest independent manufacturer of memory products. Kingston designs, manufactures and distributes memory products for desktops, laptops, servers, printers, and Flash memory products for PDAs, mobile phones, digital cameras, and MP3 players. Through its global network of subsidiaries and affiliates, Kingston has manufacturing facilities in California, Taiwan, China and sales representatives in the United States, Canada, Europe, Russia, Turkey, Ukraine, Australia, India, Taiwan, China, and Latin America. For more information, please call 800-337-8410 or visit www.kingston.com.
Editor’s Note: For additional information, evaluation units or executive interviews, please contact David Leong, Kingston Technology Company, Inc. 17600 Newhope Street, Fountain Valley, CA USA 92708, 714-438-1817 (Voice). Press images can be found in Kingston’s press room here.
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