Advanced Computing in the Age of AI | Friday, March 29, 2024

Silicon Motion Completes the Acquisition of Shannon Systems 

TAIPEI, Taiwan, July 1 -- Silicon Motion Technology Corporation (“Silicon Motion”), a global leader in NAND flash controllers for solid state storage devices, today announced that it has completed the previously announced acquisition of Shannon Systems (“Shannon”), a leading supplier of enterprise-class PCIe SSD and storage array solutions to China’s internet and other industries.  As previously communicated, Shannon expects full-year 2015 sales of approximately $14 to $18 million and the impact of this acquisition is expected to be slightly accretive to Silicon Motion’s non-GAAP earnings per share in the second half of 2015.

 “We are excited to welcome the Shannon team to Silicon Motion,” said Wallace Kou, President and CEO of Silicon Motion. “Shannon, China’s enterprise SSD leader, is well positioned with its unique, high-performance solutions to benefit from the rapid adoption of high-end enterprise SSDs within China’s large corporate and internet infrastructure.”

With the completion of the acquisition, Dr. Xueshi Yang, Shannon’s co-founder and CEO, will join Silicon Motion’s executive team as head of our enterprise SSD business.

More details on this acquisition will be provided during Silicon Motion’s upcoming second quarter earnings conference call.

About Silicon Motion

We are a fabless semiconductor company that designs, develops and markets high performance, low-power semiconductor solutions to OEMs and other customers in the mobile storage and mobile communications markets. For the mobile storage market, our key products are microcontrollers used in solid state storage devices such as SSDs, eMMCs and other embedded flash applications, as well as removable storage products. For the mobile communications market, our key products are handset transceivers and mobile TV IC solutions.  Our products are widely used in smartphones, tablets, and industrial and commercial applications.  For further information on Silicon Motion, visit www.siliconmotion.com.

About Shannon Systems

Shannon Systems develops enterprise-grade flash-based storage devices and solutions with superior performance and reliability. Our Direct-IO PCIe SSD provides industry-leading performance and reliability with one of the highest densities in the industry. Our core team is formed by Silicon Valley veterans with over 150 combined patents in the management of NAND flash and solid state storage solutions and architecture. The company is headquartered in Shanghai, China with sales and support centers in Beijing, Shenzhen and other locations. For further information on Shannon Systems, visit www.shannon-sys.com/en/.

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Source: Silicon Motion

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