SanDisk buys storage rival Fusion-io for $1.6 bn (Update)

Jun 16, 2014

US computer storage company SanDisk said Monday it was buying flash memory firm Fusion-io for $1.6 billion.

The deal will help SanDisk, a maker of memory cards used for computers, smartphones and other devices, to boost its flash memory capacity with the acquisition of Fusion-io, which provides a wide array of products and services for businesses.

Fusion-io was founded in 2006, by Apple co-founder Steve Wozniak and others, to help provide solutions for the growing amounts of data that was overloading storage systems.

"Fusion-io will accelerate our efforts to enable the flash-transformed data center, helping companies better manage increasingly heavy data workloads at a lower total cost of ownership," said Sanjay Mehrotra, SanDisk president and chief executive

The deal was approved by the boards of both companies, and is expected to close later this year, a joint statement said.

SanDisk said the deal should provide a positive impact for its results immediately following the acquisition.

SanDisk had first quarter revenues of $1.51 billion, while Fusion-io recorded $100 million in the latest fiscal quarter.

Explore further: Toshiba, SanDisk to mass produce high-power '3D' memory

add to favorites email to friend print save as pdf

Related Stories

Fusion-io shares jump in market debut

Jun 09, 2011

(AP) -- Shares of Fusion-io, a maker of fast, chip-based "hard drives" for servers, are climbing in their market debut after the initial public offering priced above expectations.

Sandisk releases 64GB wireless flash drive

Jan 07, 2014

SanDisk Corporation today announced the 64GB SanDisk Connect Wireless Flash Drive in advance of the 2014 Consumer Electronics Show. The drive extends SanDisk's popular line of wireless flash memory storage ...

Recommended for you

Amazon launches 3D printing store

15 hours ago

Amazon announced Monday the launch of an online store for 3D printed items to allow consumers to customize and personalize items like earrings, pendants, dolls and other objects.

Samsung delays Tizen smartphone sales launch

20 hours ago

Samsung Electronics said Monday it would postpone the roll-out of its new smartphone based on Tizen, a home-grown operating system aimed at breaking away from Google's Android system.

Chinese portal Sohu reports $45 million loss

23 hours ago

(AP)—Sohu.com Inc., operator of a popular Chinese Internet portal, said Monday it lost $45 million in the latest quarter while revenue rose 18 percent to $400 million.

User comments : 0