SANDISK ANNOUNCED that it has acquired flash storage vendor Fusion-IO for a cool $1.1bn on Monday, as it looks to target enterprise data centres.
Recent rumours claimed that Fusion-IO, a firm that specialises in NAND flash PCIe hardware and software tools that are used in data centre servers, was in the market for a buyer. That buyer, we now know, is Sandisk, which announced plans to throw $1.1bn at the firm in order to accelerate its growth in the enterprise market. Sandisk said it will pay all $1.1bn, or $11.28 per share, in cash, and that expects the deal to close in the second half of fiscal 2015.
With Fusion-IO under its wing, Sandisk claims it will speed up its efforts in enabling the flash-transformed data centre, which will help it make a bigger name for itself in the enterprise market.
Sandisk CEO and president Sanjay Mehotra said, "Fusion-IO will accelerate our efforts to enable the flash-transformed data centre, helping companies better manage increasingly heavy data workloads at a lower total cost of ownership.
"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."
Fusion-IO chairman and CEO Shane Robison added, "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."
Sandisk will host a call on the buyout later today, where we'll likely hear more about the deal. µ