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Technology Stocks : Apple Inc.

AAPL 273.40

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Dec 26 9:30 AM EST

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To: clean86 who wrote (170917)	6/16/2014 2:48:08 PM
From: Moonray	Read Replies (1) of 213177

SanDisk acquires Fusion-io for $1.1B in cash Jon Swartz, USA TODAY - 1:52 p.m. EDT June 16, 2014 SAN FRANCISCO -- Flash-memory chip maker SanDisk snapped up Fusion-io for about $1.1 billion in cash Monday to add firepower to its portfolio of enterprise products. SanDisk, whose chips are widely used in smartphones and cameras to store data, is increasingly using its chips to make an imprint as an enterprise storage company. Flash drives are also being adopted by data centers, a lucrative market where SanDisk competes with Fusion-io, Seagate Technology and Western Digital. "Clearly, data is growing rapidly," SanDisk CEO Sanjay Mehrotra told USA TODAY in a phone interview today. "This acquisition gives us the broadest of offerings." Fusion-io's shares were up 23% at $11.45 on Monday. Fusion-io's customers include Apple and Facebook, which is building out its next-generation data centers this year. The company employs Apple co-founder Steve Wozniak as its chief scientist. Fusion-io is SanDisk's fifth acquisition in the enterprise storage business, the most recent being its $307 million purchase of SMART Storage Systems in July. Fusion-io is SanDisk's second-largest acquisition ever. SanDisk said it expects the deal to close in the third quarter. The company's shares were up 2% at $100.66 in afternoon trading Monday. o~~~ O

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