International flash storage provider SanDisk is in the process of acquiring flash-based hardware and software company Fusion-io for US$1.1bn.
SanDisk said the acquisition will be an all-cash transaction – funded with cash available on its balance sheet.
The transaction has been approved by the boards of directors from both companies and is subject to closing conditions.
Fusion-io's chairman and CEO Shane Robison said the company's innovative hardware and software solutions will be augmented by SanDisk’s worldwide scale and vertical integration.
"This will create a combined company that can offer an even more compelling value proposition for customers and partners," Robison said.
SanDisk president and CEO Sanjay Mehrotra said Fusion-io will accelerate SanDisk’s efforts to enable the flash-transformed data center.
“This will help companies better manage increasingly heavy data workloads at a lower total cost of ownership,” said Mehrotra.
“Customers will benefit from the addition of Fusion-io’s PCIe solutions to SanDisk’s vertically integrated business model.”
It is expected that the transaction will close in SanDisk’s Q3 2014.
At the beginning of the month Fusion-io released its Atomic Series, which it claims can achieve unparalleled performance and double the capacity on the smallest available NAND footprint for appliance and server environment.
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