Kingston Technology Co. has sold their Payton subsidiary to China’s Shenzhen Kaifa Technology Co. Ltd. Financial terms of the deal were not disclosed, and the deal still needs approvals from the Chinese government. Kaifa will assume one-hundred-percent equity stake in Payton. The deal will enable Payton to expand its horizons into wider areas for semiconductor packaging and testing as the computer industry continues to evolve.

Kingston Technology Corporation is an American, privately held, multinational computer technology corporation that develops, manufactures, sells and supports flash memory products and other computer-related memory products. Their influence spans across the world with manufacturing and logistics facilities in the United States, United Kingdom, Ireland, Taiwan, and Mainland China. They are the largest independent producer of DRAM memory modules, owning 53% of the third-party worldwide DRAM module market share. Other feats include being the second largest supplier of flash memory and USB drives, fourth largest supplier of flash cards, and fifth largest in solid state drives. The company has shown consistent growth since its creation in 1987.