JAPANESE tech giant Toshiba met yet another roadblock in its efforts at finding an outside investor for its multibillion-dollar microchip business last week.
After weighing its options anew, the Asian tech giant ultimately failed yet another self-imposed deadline to complete what is estimated to be a US$17 – US$18 billion dollar deal.
Toshiba’s microchip business is widely regarded as the second largest in the world, with the firm providing NAND chips for various tech manufacturers. The Japanese firm is so prominent in the NAND industry, it is only surpassed by Samsung Electronics, which is the largest tech company in the industry.
With this, it was no surprise to see several prominent business players step forward when Toshiba announced it was looking for potential buyers for its microchip business. So far, the Japanese tech firm has narrowed its suitors down to three – a consortium of firms led by Bain Group, Western Digital and Foxconn.
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