July 3rd, 2013 by Josh Shaman
SanDisk Acquires SMART Storage Systems for $307M
SanDisk has announced an agreement to acquire SMART Storage Systems, which is known for its innovative SAS and SATA interface SSDs and Guardian Technology, for a sum of $307 million in cash and equity-based incentives. The acquisition has been approved by both boards of directors, and pending regulatory review, the deal is expected to be completed in August. With the finalization of the deal, around 250 employees from SMART will join the SanDisk team. This fourth enterprise acquisition for SanDisk will assist it further expanding its market presence with products qualified with 6 of the top 7 OEMs worldwide.
SMART's SATA and SAS enterprise SSDs, such as the SMART CloudSpeed 500 Enterprise SSD, utilize its Guardian Technology that drives the native endurance of the NAND even further while still enhancing reliability. SMART Storage Systems had around $25M of revenue in the quarter ending May 31 this year, which shows its continued upward growth. Together under one roof, the companies will benefit from shared expertise in enterprise SSDs and software as well as vertical integration, financial stability and market range.