U.S.-based Western Digital has restarted talks with Japan’s Kioxia Holdings in a deal that could unite two technology storage providers, according to people familiar with the matter.

While the structure of a potential deal remains fluid, the parties are discussing merging into one publicly traded company, said the people, who asked not to be identified because the talks are private. The current discussions, which revived late last year, are in the early stage and could also end without an agreement, the people said.

The companies, which have a joint venture that produces flash chips, have been circling each other for years.