Western Digital to acquire SanDisk for $19 billion

Western Digital Corporation has announced that it will acquire SanDisk Corporation for $19 billion.

Western Digital says that it will acquire all of the outstanding shares of SanDisk for a combination of cash and stock with a total equity value of approximately $19 billion. The transaction is expected to close in the Q3 of 2016.

The acquisition allows Western Digital to transform into a storage solutions company with deep expertise in non-volatile memory (NVM), integrate into NAND, and secure long-term access to solid state technology.

“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, chief executive officer, Western Digital. “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.”

source: Western Digital