GIGABYTE Has Spun-off Its Server Business Unit, Pursuing Greater Long Term Sustainable Growth and Value Creation with Giga Computing
GIGABYTE Technology, an industry leader in high-performance servers and workstations, today announced its enterprise solutions division has officially been spun off from GIGABYTE and acts as an independent, wholly-owned GIGABYTE subsidiary. The new standalone company, Giga Computing Technology, will leverage the GIGABYTE brand to drive server business growth and innovation. The GIGABYTE board of directors reached the decision, both the parent company and its new subsidiary agreed that the transaction would create long-term value for GIGABYTE customers that rely on enterprise solutions, as well as the consumer market.
In return for the split, GIGABYTE will receive 83,360,000 common shares of Giga Computing at NTD $10 per share, and this was determined by the estimated value of the subsidiary at NTD $833,600,000. This subsidiary creation is simply a group reorganization and will not have an impact on the daily and financial operations of the parent company. GIGABYTE and Giga Computing have an agreement in place to maintain the same development and support for all GIGABYTE enterprise products and solutions for customers. These systems and products sold by Giga Computing will, for the time being, continue to use the familiar GIGABYTE brand that is known and respected in the tech sector. At the same time, GIGABYTE will continue to drive its own growth in its consumer divisions for motherboards, GPUs, laptops, desktops, monitors, PC peripherals, and PC components.
In return for the split, GIGABYTE will receive 83,360,000 common shares of Giga Computing at NTD $10 per share, and this was determined by the estimated value of the subsidiary at NTD $833,600,000. This subsidiary creation is simply a group reorganization and will not have an impact on the daily and financial operations of the parent company. GIGABYTE and Giga Computing have an agreement in place to maintain the same development and support for all GIGABYTE enterprise products and solutions for customers. These systems and products sold by Giga Computing will, for the time being, continue to use the familiar GIGABYTE brand that is known and respected in the tech sector. At the same time, GIGABYTE will continue to drive its own growth in its consumer divisions for motherboards, GPUs, laptops, desktops, monitors, PC peripherals, and PC components.