Western Digital, a well-known manufacturer of hard drives, announced today the acquisition of SanDisk, an American company that manufactures and sells flash drives Appliances storage.
According the information announced by the same company in a press release, Western Digital agreed to buy SanDisk's entire stock with a combination of cash and shares. The stock market value of SanDisk is currently 86,50 dollars.
Following the takeover, Western Digital CEO Steve Milligan will continue to be Managing Director of the company, SanDisk Managing Director Sanjay Mehrotra will join the Western Digital Management Board.
This move is not surprising since earlier this month, there were rumors that SanDisk was actively seeking a buyer.
Both SanDisk and WD have reported very good financial results in the last quarter.
So with this move, WD is reportedly entering the flash storage market, via SanDisk. They seem to be (you never really know, that's what they're called businesses, from the venture) a very smart move, as more and more smartphone and tablet manufacturers are using flash storage in products their.
We should also mention that SanDisk is currently considered the third best company after Samsung and Toshiba.
