Andre Yoskowitz
21 Oct 2015 12:20
Hard drive maker Western Digital has announced their acquisition of memory card giant SanDisk for $19 billion in cash and stock.
There had been rumors for months that SanDisk was looking for a buyer and in the last week Western Digital was increasingly seen as a potential acquirer.
The move has synergies for both companies, including the merger of huge lines of SSDs, HDDs, and NAND storage.
"This transformational acquisition aligns with our long-term strategy to be an innovative leader in the storage industry by providing compelling, high-quality products with leading technology," said Steve Milligan, chief executive officer, Western Digital. "The combined company will be ideally positioned to capture the growth opportunities created by the rapidly evolving storage industry. I'm excited to welcome the SanDisk team as we look to create additional value for all of our stakeholders, including our customers, shareholders and employees."
Source:
Western Digital