Kingston Technology Co., Ltd. agreed to acquire 32.9% stake in Kingston Solutions Inc. from Phison Electronics Corp. (GTSM:8299) for approximately TWD 1.8 billion on July 14, 2020. Under the terms, Kingston Technology Corporation will acquire each share at TWD 168 per share. Post the acquisition, Kingston Technology Co., Ltd. will become the majority shareholder of Kingston Solutions Inc. The transaction is subject to approval from the Investment Commission, Ministry of Economic Affairs. Kingston Technology Co., Ltd. completed the acquisition of 32.9% stake in Kingston Solutions Inc. from Phison Electronics Corp. (GTSM:8299) on September 4, 2020.