Bain Capital pledges to support Toshiba Memory M&A activity

By Pouyan Broukhim

Having completed the acquisition of Toshiba Memory Corp last week in an $18bn deal, leading Boston-based private equity and venture capital firm Bain Capital has pledged that it will support the newly acquired business in pursuing a number of large deals within the chip industry.

According to Reuters, the announcement was made by Yuji Sugimoto, Head of Bain Capital Japan, speaking at a news conference following the completion of the acquisition.

See also:

“I believe our financing power will enable Toshiba Memory engage in large-scale M&A deals,” he said.

The completion of the $18bn deal took longer than expected, largely due to delays caused by Chinese antitrust regulators as tensions between the US and China remain.

In addition to providing Bain Capital with a significant footprint within the thriving semiconductor industry, the deal also helps Toshiba in its cost cutting initiative after the company was put under significant financial pressure following the bankruptcy of its Westinghouse US nuclear unit.

Further, as part of the deal, a Toshiba-led consortium has reinvested in the company alongside Apple, Dell Technologies and others, holding a 40% stake.

Share

Featured Articles

Top 20 essential leadership resources for Black executives

To celebrate Black History Month, here are 20 resources for Black leaders – from business books to leadership coaches to business school exec programs

Broadridge study reveals huge impact of AI on C-suite

Broadridge Financial Solutions spoke to 500 C-suite executives from across the globe, many of whom said AI was significantly changing the way they work

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Leadership & Strategy

12 top AI and ML trends for the enterprise in 2023 – Dataiku

Technology & AI

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy