Printed from http://www.electronista.com

SanDisk buys Smart Storage Systems for $307M for enterprise technology

updated 11:46 am EDT, Tue July 2, 2013

Acquisition to bolster existing SanDisk enterprise storage devices

Storage manufacturer SanDisk is acquiring enterprise solid state drive developer Smart Storage Systems. The "definitive agreement" to purchase the company sees SanDisk paying approximately $307 million in cash and "equity-based incentive awards" to Silver Lake Partners, with the boardroom-approved deal expected to be completed in August.

The acquisition will help SanDisk expand its enterprise services, aimed towards large organizations and entities with data centers. As well as the 250-employee roster, the Smart buy will also see SanDisk gain access to the company's Guardian Technology, which it uses to prolong the life and improve reliability of NAND flash memory. While this is primarily focused at enterprise usage, the same technology could make an appearance in consumer-grade products in the future.

SanDisk executive vice president and chief strategy officer Sumit Sadana said that the purchase allows the company "to address a $1.6 billion market opportunity in enterprise SATA products, and compliments our strong enterprise SAS product portfolio. With this combination, SanDisk will have products qualified with six of the top seven storage OEMs worldwide."

Smart generated revenues in the region of $25 million in the last quarter, an improvement on the previous quarter. SanDisk states that the acquisition will impact the company's non-GAAP earnings per share for the second half of 2013, but it will increase earnings in 2014.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Samsung Galaxy S6 Edge

The Samsung Galaxy S6 range is a critical component in Samsung's flagging smartphone strategy. With sales of its high-end smartphones ...

Notti smart lamp from Witti

Perhaps you've already seen our review of the Dotti LED display from Witti Design. Meet Notti, Dotti's "sibling". Notti is a softball ...

Seagate Personal Cloud (2-Bay)

When it comes to backing up files, many users are now looking to the myriad of cloud storage solutions available. There is no doubt th ...

Advertisement

toggle

Most Commented

 
toggle

Popular News