Western Digital To Spin-Off Flash Memory Business To Shareholders

Deal Overview

On October 30, 2023, Western Digital

WDC
Corporation (NASDAQ

NDAQ
: WDC, $43.26, Market Cap: $14.03 billion), announced that its Board of Directors has unanimously approved a plan to separate its HDD and Flash Memory business into independent publicly traded companies. This move comes after the merger talks with Kioxia Holdings Corp (Kioxia) failed. Following the separation, Western Digital (Parent) will retain its HDD business, emphasizing high-capacity memory for cloud data centers. Meanwhile, the Spin-off entity will concentrate on Flash Memory, primarily supplying memory for computers, devices, and portables.