Chinese memory chip enterprise Pura Semiconductor announced a major plan: it is preparing to acquire a controlling stake in its invested company, Zhuhai Noah Changtian Memory Technology Co., Ltd. ("Noah Changtian"), via cash payment. Upon completion of the transaction, Pura Semiconductor will gain control of Noah Changtian and indirectly take charge of its wholly-owned subsidiary—Hong Kong (China)-registered semiconductor firm SkyHigh Memory Limited ("SHM").
Co-founded by Cypress and SK Hynix, SHM focuses on R&D and solutions for mid-to-high-end high-performance 2D NAND and derivative memory products (including SLC NAND, eMMC, MCP). Its core capabilities cover firmware algorithm development, chip testing, integrated packaging design, and product customization. With engineering centers in South Korea and Japan, and sales networks across Asia, Europe, and the Americas, SHM has independent operation capabilities, a stable customer base, and its products are used in industrial control, security, wearables, and smart terminals.
This acquisition is a key strategic move for Pura Semiconductor to strengthen its core competitiveness in memory chips and expand its product portfolio. The transaction valuation and terms will be determined after due diligence, auditing, and evaluation, with Pura planning to use its own or self-raised funds for the cash payment.
Amid the fast-growing global semiconductor industry, the memory chip market is seeing new opportunities. AI, smart cars, 5G, and IoT are driving surging demand for high-performance, high-reliability memory. With mature processes, low costs, and high stability, 2D NAND holds significant value in mid-to-long lifecycle applications like industrial control and communications. It is projected that the global SLC NAND market size will reach $2.31 billion in 2024 and $3.44 billion by 2029, with a 5.8% CAGR. Achieving independent R&D and mass production of advanced-node 2D NAND is of great significance for advancing domestic substitution and accumulating experience in high-end memory.
In terms of business synergy: Pura currently focuses on non-volatile memory chips such as NOR Flash, EEPROM, and MCU, while SHM specializes in mid-to-high-end 2D NAND and derivatives. Their integration will enable in-depth synergy in three key areas:
Product Complementarity: Pura’s NOR Flash, EEPROM, MCU and SHM’s SLC NAND, eMMC, MCP form a complete non-volatile memory portfolio, significantly enhancing product competitiveness.
Market Synergy: Pura’s business is centered in mainland China, while SHM focuses on overseas markets. The merger will build a global sales network.
Technology Integration: Pura excels in chip design, and SHM is proficient in mass production process optimization and engineering capabilities. Their technical combination will improve overall solution capabilities and product performance.
Pura Semiconductor stated that this acquisition will help expand its business scale, boost profitability, and further consolidate its market position and comprehensive competitiveness in the memory chip sector.
ICgoodFind: Pura Semiconductor’s acquisition is expected to accelerate the layout of domestic memory chips, drive industrial chain synergy, and inject new impetus into domestic substitution.
