Toshiba Corporation and Samsung Electronics Co., Ltd. signed a memorandum of terms covering integration of the companies’ respective optical disk drive businesses in a joint venture. The two companies will reportedly now finalize details of the agreement in readiness for incorporation of the joint venture.
According to the two companies, the new joint venture will bring together product and business planning, product development, procurement, and sales for optical disk drives (ODD), including CD-ROM and DVD-ROM drives. The new company will be 51 percent owned by Toshiba and 49 percent owned by Samsung and consolidated by Toshiba. The joint venture will be headquartered in Japan, while its wholly owned subsidiary established in Korea will control operations there.
to Daily News