SanDisk acquires Smart Storage Systems for $307 million
SanDisk Corp., a maker of flash memory for mobile devices has acquired Smart Storage Systems for $307 million. Reports say the move was made to improve the performance of chips.
The deal, which already been approved by both parties, will come to fruition in August, Milpitas. About 250 employees from Smart Storage will join SanDisk.
SanDisk has already acquired FlashSoft and Pliant Technology Inc. The acquisition of Smart Storage Systems is their fourth acquisition. The recent acquisitions were made with a view to add technology that makes the chips that store data in phones, tablets and some computers faster and more energy-efficient. Smart Storage generated sales of about $25 million in the fiscal quarter ended in May.
“SanDisk is excited to build upon its leadership position with its fourth acquisition in the enterprise storage market,” Sumit Sadana, executive vice president and chief strategy officer at SanDisk, said in the statement.
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