SanDisk To Acquire Fusion-io - Quick Facts

(RTTNews) - SanDisk Corp. (SNDK) announced an agreement to acquire Fusion-io (FIO), a developer of flash-based PCIe hardware and software solutions. The acquisition will be an all-cash transaction valued at approximately $1.1 billion, net of cash assumed. SanDisk will commence a tender offer for all outstanding shares of Fusion-io for $11.25 per share in cash. SanDisk expects the transaction will be accretive to its non-GAAP earnings in the second half of the company's fiscal 2015.

Sanjay Mehrotra, SanDisk CEO, said: "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. Customers will benefit from the addition of Fusion-io's leading PCIe solutions to SanDisk's vertically integrated business model."