{"id":84869,"date":"2017-10-09T20:16:08","date_gmt":"2017-10-10T00:16:08","guid":{"rendered":"http:\/\/rbachnet.wwwmi3-ss40.a2hosted.com\/index.php\/"},"modified":"2021-08-01T15:26:59","modified_gmt":"2021-08-01T19:26:59","slug":"is-toshiba-screwed","status":"publish","type":"post","link":"https:\/\/rbach.net\/index.php\/is-toshiba-screwed\/","title":{"rendered":"Is Toshiba Screwed?"},"content":{"rendered":"

\"Is<\/a>The tortuous auction of\u00a0 the covted Toshiba<\/strong> NAND chip fab<\/strong><\/a> has finally wrapped. You would think that after over nine months of bidding and 2 trillion yen<\/strong> ($17.7 billion) the victors would like to gloat. A win of that size would be celebrated, but nooo….<\/p>\n

The winning partners lead by venture capitalist Bain Capital<\/a><\/strong> and Apple can’t even agree on when to hold a presser to announce their purchase. The consortium had planned a presser for 09-28-2017, which was abruptly canceled just minutes before it was due to begin according to reports. Reuters<\/em> reports that \u201c\u2026the consortium could not form a consensus on whether to brief media.\u201d<\/p>\n

\"Pangea\"<\/a>One wrinkle may be that Apple<\/a><\/strong>\u00a0(AAPL<\/a>) has demanded new terms on its chip supply for the new iPhone<\/a>s. In addition to Apple, Bain\u2019s consortium “Pangea<\/strong>” includes Japan’s\u00a0Hoya Corporation<\/a>, South Korea’s\u00a0SK Hynix<\/a>, and U.S. investors Kingston Technology<\/a>,\u00a0Seagate Technology<\/a>\u00a0(STX)<\/a>, and Dell Technologies Capital<\/a>.- all of which want access to NAND technology.<\/p>\n

Under the deal, Toshiba will have 40.2 percent of voting rights in the chip unit and Hoya will own 9.9 percent. The four U.S. tech firms will not have voting rights.<\/p>\n

Besides internal strife, the sale also faces legal challenges from Western Digita<\/a>l<\/strong> (WDC<\/a>), Toshiba\u2019s chip venture partner, and rejected suitor, which is seeking an injunction to block any deal that does not have its consent.<\/p>\n

\"Western<\/a>Western Digital, one of the world\u2019s leading makers of hard disk drives, paid some $16 billion last year to acquire SanDisk, Toshiba\u2019s chip joint venture partner since 2000. It sees chips as a key pillar of growth and is desperate to keep the business out of the hands of rival chipmakers.<\/p>\n

Bain has also announced that it plans to take Pangea public by 2020.<\/strong><\/p>\n

 <\/p>\n

Ralph Bach<\/a>\u00a0has been in IT long enough to know better and has blogged from his\u00a0Bach Seat<\/a> about IT, careers, and anything else that catches his attention since 2005. You can follow him on LinkedIn<\/a>,\u00a0Facebook<\/a>,\u00a0and\u00a0Twitter<\/a>. Email the Bach Seat\u00a0here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

VC Bain and Apple paid $17.7B for the Toshiba NAND chip fab but could not even agree on when to hold a presser to announce their purchase.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[2990,101,2960,1741,216,318,3259,2898,2961,1726,2422,143],"class_list":["post-84869","post","type-post","status-publish","format-standard","hentry","category-business","tag-2990","tag-apple","tag-bain","tag-bankruptcy","tag-dell","tag-ipo","tag-mergers-and-acquisition","tag-nand","tag-pangea","tag-toshiba","tag-venture-capital","tag-western-digital"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/84869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/comments?post=84869"}],"version-history":[{"count":9,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/84869\/revisions"}],"predecessor-version":[{"id":124729,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/84869\/revisions\/124729"}],"wp:attachment":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/media?parent=84869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/categories?post=84869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/tags?post=84869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}