Toshiba Agrees to Sell Memory Group to Bain for $18bn, with Funding from Apple (Sep 28, 2017)

This has been a long-running saga with several false starts in reporting a conclusion of the deal, but Toshiba has now finally announced an agreement on the sale of its memory business to a consortium led by Bain Capital for two trillion yen, or roughly $18 billion. Apple is among several companies providing funding for the deal, and it looks like it’ll end up paying about $1.5 billion for its stake. Ensuring that Toshiba’s memory business remained a going concern and that it secured its share of its output was paramount to Apple given the constraints and competitiveness in the global memory market, which has pushed up costs and prices over recent months while boosting Samsung’s memory business enormously. Given the frustrations Apple has experienced in having to rely on Samsung as a supplier for OLED screens in an equally constrained market, this long-term imperative will have taken on even greater significance lately. There are additional complexities in the deal because Western Digital, which owns several joint ventures with Toshiba, continues to oppose it, but it looks like it should now go ahead.

via Bloomberg

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