Thursday, 12 May 2016

Western Digital officially closes SanDisk acquisition

Western Digital has now officially purchased flash memory manufacturer SanDisk after regulator approval was passed earlier this week. The agreement between the two storage companies was originally announced last October in a deal worth nearly $19 billion. However, Chinese company Unisplendour, which was planning to buy a 15 percent stake in Western Digital as part of the merger, backed out in February this year, lowering the value of the deal to around $16 billion. At the time, Western Digital reaffirmed its confidence in the purchase, and this week said it was looking forward to creating "the leading storage solutions company."
Western Digital's chief executive Steve Milligan described the deal today as a "transformational...

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