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Western Digital acquires SanDisk for US$19 billion

By Peter Chu - on 22 Oct 2015, 10:48am

Western Digital acquires SanDisk for US$19 billion

Image source: Western Digital

It looks like the record-breaking US$67 billion (RM286.7 billion) deal that went down between Dell and EMC isn’t the only one that’s happening in the tech industry this month, as Western Digital has recently agreed to purchase SanDisk for a good US$19 billion (RM81.3 billion), or US$86.50 (RM370) per share.

Western Digital, the world’s largest storage manufacturer, is undeniably already a household name when it comes to all things hard drive. Which is why their strategic purchase of SanDisk – the world’s third-largest flash memory manufacturer – will definitely turn them into a bigger force that’s to be reckoned with.

"This transformational acquisition aligns with our long-term strategy to be an innovative leader in the storage industry by providing compelling, high-quality products with leading technology," said Steve Milligan, Western Digital's Chief Executive Officer in a statement. "The combined company will be ideally positioned to capture the growth opportunities created by the rapidly evolving storage industry. I'm excited to welcome the SanDisk team as we look to create additional value for all of our stakeholders, including our customers, shareholders and employees," he added.

Of course, it goes without saying that a deal of this magnitude will require a considerable amount of time before it can be finalized. Nevertheless, Western Digital says they’re expecting the acquisition to be completed by the third quarter of next year.

Source: Western Digital via Engadget