Ardian acquires majority stake of Swissbit, intends to expand embedded storage and memory business in North America, Asia.
Swissbit Holding AG, a Swiss embedded storage provider, is to be acquired by private investment firm Ardian. Ardian will acquire a majority stake, while Swissbit's existing management team will retain a substantial stake in the company. Financial terms of the transaction are subject to approval by antitrust authorities and were not disclosed.
Based in Bronschhofen, Switzerland with a state-of-the-art production facility in Berlin, Germany, Swissbit is the only independent European provider of NAND flash storage solutions. The company develops high-end SD cards, microSD cards, SSD drives, and USB memory modules. The company was purchased through a buyout of Siemens Memory division in 2001.
Swissbit currently has more than 700 customers. The acquisition by Ardian will help strengthen the company into North America and Asia.