Home Market Updates SanDisk completes acquisition of Fusion-io

SanDisk completes acquisition of Fusion-io

SanDisk completes acquisition of Fusion-io
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SanDisk Corporation, a global leader in flash storage solutions has announced the completion of the previously announced acquisition of Fusion-io, a leading developer of flash-based PCIe hardware and software solutions that enhance application performance in enterprise and hyper scale datacentres.

“I am delighted to welcome the employees of Fusion-io to SanDisk. The tremendous engineering and go-to-market talent of the Fusion-io team will accelerate our efforts to enable the flash-transformed data center,” Sanjay Mehrotra, president and chief executive officer of SanDisk said. “Together we will offer our customers the broadest set of enterprise flash solutions in the industry.”

Under the terms of the agreement, SanDisk completed the acquisition for $11.25 per share for the outstanding shares of Fusion-io, and assumed unvested, in-the-money equity awards, for a total aggregate value of approximately $1.1 billion, net of cash assumed.

As a result of the completion of the merger, Fusion-io has become a wholly-owned subsidiary of SanDisk.

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929

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