toshiba selling chip business

Toshiba agreed to sell it’s Memory Business to a consortium Bain Capital for $18 billion which is 2 Trillion yen and was negotiated down from 2.4 trillion yen. Bain Capital has its HQ in Boston and is one of the world’s leading multi-asset alternative investment firms.

Sources say Apple also contributed in the buyout to get closer to the chip business. Toshiba has wide array of memory solutions that is used in the world today using high-efficient 3D NAND technology and is world’s 2nd largest supplier of flash memory and will remain one of the strongest force in the upcoming years.

The reason for sale are the big red numbers of $8.7 billion loss in 2016 by closure of its Westinghouse nuclear facility.