SanDisk to Acquire Fusion-io
California based SanDisk has revealed that it has signed agreement paperwork to acquire Fusion-io, a leading developer of flash-based PCIe hardware and software solutions for enterprise data centers. Currently, SanDisk focuses heavily on consumer based products such as flash based memory cards. However, with the acquisition SanDisk will use Fusion-io to enter the business market on a large scale, focusing on the enterprise management of heavy workloads and lowering the total cost of ownership for companies. SanDisk president and CEO, Sanjay Mehrotra, noted that the company looks forward to working with the sophisticated engineering and marketing teams currently at Fusion-io in order to provide global customers with high value solutions.
The transaction itself will be made with cash between SanDisk and Fusion-io, totaling $1.1 billion. The acquisition is expected to close in the third quarter of this year and is subject to customary closing conditions.
Source: Business Insider