SanDisk Announces Agreement to Get Pliant Tech
SanDisk, a worldwide leader in expensive memory storage solutions, today introduced a definitive agreement to get Pliant Technology, Corporation., the number one developer of enterprise solid condition drives (SSD). Underneath the the agreement, SanDisk can pay roughly $327 million in cash and supply certain equity-based incentives. The transaction, that has been authorized by the boards of company directors of both companies, is susceptible to customary closing conditions, including regulating review and approval, which is likely to near by the finish of SanDisk’s second fiscal quarter.
Pliant presently sells ultra-high end enterprise solid condition drives in line with the SAS protocol to satisfy the demanding performance, data integrity and reliability needs of enterprise storage clients. The business’s product roadmap includes PCIe-based solutions for high-performance compute servers. Pliant is really a leader in using multi-level cell (MLC) NAND in enterprise SSDs, and also the less expensive of MLC is really a key enabler for that broad adoption of SSDs within the enterprise market.
“Expensive memory is making significant inroads in to the enterprise by significantly growing application performance and reducing energy consumption, we feel the mixture of Pliant’s innovative technology and enterprise-level system expertise with SanDisk’s high-quality, large-scale MLC memory production is really a winning value proposition for clients. Our advanced expensive technology roadmap and expensive management capacity will complement Pliant’s talents and allow us lead the means by reliability and gratifaction within the Enterprise SSD market.” stated Sanjay Mehrotra, SanDisk leader and ceo.
“The Enterprise SSD marketplace is poised for considerable growth, with revenue forecasted to achieve $4.2 billion in 2015, up from $994 million this year, this trajectory is fueled through the growing utilization of MLC NAND technology, that will require extensive expensive management expertise to make sure effective adoption in enterprise programs.” stated Frederick Unsworth, research director at Gartner.
SanDisk needs the transaction to become dilutive to its non-GAAP earnings by 2% to threePercent in fiscal year 2011 and accretive to non-GAAP earnings in fiscal year 2012.
SanDisk Corporation is really a world leader in expensive memory storage solutions, from research and development, product design and manufacturing to branding and distribution for OEM and retail channels. Since its founding in 1988, SanDisk continues to be finding in expensive memory and system technologies which have provided customers with new and life changing digital encounters. SanDisk’s diverse product portfolio includes expensive memory cards and embedded solutions utilized in wise phones, pills, digital camera models, video cameras, digital media gamers along with other consumer electronic products, in addition to USB expensive drives and solid condition drives for that computing market. SanDisk’s items are utilized by customers and enterprise clients all over the world. SanDisk is really a Plastic Valley-based S&P 500 and Fortune 500 company, using more than half its sales outdoors the U . s . States.
ABOUT PLIANT TECHNOLOGY
Pliant Technology’s Enterprise Expensive Drives (EFDs) really are a new class of solid-condition storage products that integrate effortlessly into enterprise information systems and significantly improve performance, reliability, energy efficiency, and TCO. Pliant’s Lightning EFD family provides breakthrough enhancements over present day greatest carrying out hard disk and SSD storage solutions for a variety of data I/O intensive enterprise programs. Pliant Technology has roughly 80 employees and it is located in Milpitas, California.