SanDisk Acquires SSD Maker Fusion-Io for $1.1 Billion
SanDisk, best known for making those little blue memory cards for consumer mobile devices such as smartphones and cameras, is pivoting big time into the enterprise.
The Milpitas, Calif.-based flash memory provider made a strategic buy into the enterprise solid-state storage business June 16 by acquiring Fusion-io for $1.1 billion.
The all-cash offer is for $11.25 a share, 21 percent higher than Fusion-io’s closing NYSE price on June 13. The deal has been approved by both company boards. Because the share price went higher on June 16 ($11.40, up about 22 percent from the June 13 close) than the offer price, investors may be anticipating a counterbid from another buyer.