While it has been rumored that SanDisk has been looking for a buyer, now everything is official - the company will soon join Western Digital. The two companies announced yesterday that "Western Digital will acquire all of the outstanding shares of SanDisk for a combination of cash and stock." The value of the deal is around $19 billion.
According to the official press release, "Western Digital will double its addressable market and expand its participation in higher-growth segments." Once the two companies become one, Western Digital expects to increase SSD/NAND exposure from 6 percent to 32 percent of total sales. Right now, SanDisk has over 3,000 engineers worldwide and over 6,500 patents/applications, while Western Digital employs almost 10,000 engineers and also has over 10,000 patents and applications.
This transaction is expected to close in the third calendar quarter of 2016. By then, SanDisk CEO Sanjay Mehrotra should join the Western Digital board while Western Digital CEO Steve Milligan will keep his position. For more details, please check the press release below.
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