Acer has decided to sell off all of its 34.4% holding in memory module subsidiary Apacer Technology, with Powerchip Semiconductor Corporation (PSC), A-Data Technology, and Apacer's current management team set to take up the released shares, according to industry sources. The memory market has been tough this year and an insider tipped us off this that OCZ Technology and Corsair Memory cut sales and marketing jobs in recent weeks. With companies cutting jobs and selling off memory holdings it is a sign of how tough the market really is right now.

PSC is expected to take a thin slice of the Acer holdings, which will nevertheless make it the biggest shareholder of Apacer with an almost 25% stake, the sources said. Apacer's management team will increase its stake to 20% to become the second largest shareholder, followed by A-Data, who will have 5-10%, the sources said. PSC and A-Data declined to comment, but Apacer said its management team is taking over most of the shares released by the parent company in order to demonstrate its confidence in Apacer.