Edition:
United States

Toshiba And Western Digital Reach Global Settlement And Agree To Strengthen Flash Memory Collaboration


Tuesday, 12 Dec 2017 05:00pm EST 

Dec 12 (Reuters) - Western Digital Corp ::PRESS RELEASE - TOSHIBA AND WESTERN DIGITAL REACH GLOBAL SETTLEMENT AND AGREE TO STRENGTHEN FLASH MEMORY COLLABORATION.WESTERN DIGITAL CORP - TMC AND WESTERN DIGITAL WILL PARTICIPATE JOINTLY IN FUTURE ROUNDS OF INVESTMENT IN FAB 6.WESTERN DIGITAL CORP - FLASH ALLIANCE WILL BE EXTENDED TO DECEMBER 31, 2029 AND FLASH FORWARD TO DECEMBER 31, 2027.WESTERN DIGITAL - TOSHIBA, TMC AND WESTERN DIGITAL HAVE AGREED TO WITHDRAW ALL PENDING LITIGATION AND ARBITRATION ACTIONS.WESTERN DIGITAL - TMC & CO INTEND TO ENTER INTO AGREEMENTS IN DUE COURSE UNDER WHICH CO WILL PARTICIPATE IN NEW FLASH WAFER FABRICATION FACILITY.WESTERN DIGITAL CORP - PARTIES HAVE AGREED ON MUTUAL PROTECTIONS FOR THEIR ASSETS AND CONFIDENTIAL INFORMATION IN CONNECTION WITH SALE OF TMC.WESTERN DIGITAL CORP - AGREEMENT TO RESOLVE ALL OUTSTANDING DISPUTES ENSURES THAT ALL PARTIES ARE ALIGNED ON TOSHIBA'S SALE OF TMC TO K.K. PANGEA.WESTERN DIGITAL CORP - TOSHIBA ALSO REMAINS ON TRACK TO COMPLETE TRANSACTION WITH CONSORTIUM LED BY BAIN CAPITAL BY END OF MARCH 2018.