SanDisk has announced that it will purchase Fusion-io in a deal with is worth $1.2 billion, the company is well known for making ultra fast flash based PCIe hardware.
SanDisk will pay a total of $1.1 billion in cash for Fusion-io, and Sandisk will purchase shares in the company for $11.25 each, and Sandisk will use its cash reserves for the purchase.
“Fusion-io will accelerate our efforts to enable the flash-transformed data center, helping companies better manage increasingly heavy data workloads at a lower total cost of ownership,” said Sanjay Mehrotra, SanDisk president and CEO. “Customers will benefit from the addition of Fusion-io’s leading PCIe solutions to SanDisk’s vertically integrated business model. We look forward to working with the world-class engineering and go-to-market teams from Fusion-io to provide high-value solutions to customers around the world.”
“This transaction represents a compelling opportunity for Fusion-io’s employees, customers and shareholders,” said Shane Robison, chairman and CEO of Fusion-io. “Fusion-io’s innovative hardware and software solutions will be augmented by SanDisk’s worldwide scale and vertical integration, enabling a combined company that can offer an even more compelling value proposition for customers and partners.”
You can find out full details on the purchase by SanDisk over at the link below, the company will also hold a conference call to discuss the deal later today.
Source Business WireFiled Under: Technology News