Yesterday, Western Digital announced plans to acquire SanDisk Corporation, a company that specializes in memory chips and SD cards. According to a statement released on Wednesday, Western Digital will purchase all of SanDisk’s shares in a deal totaling about $19 billion; a combination of both cash and stock will be paid.
Western Digital's CEO Stephen D. Milligan will serve as chief executive of the combined company, while SanDisk's President and CEO Sanjay Mehrotra will join WD's board of directors. As is common, this planned acquisition must have both regulatory and shareholder approval, and likely won’t close until Q3 2016 as a result. Toshiba's joint venture with SanDisk will be ongoing.
Said Mehrotra in a statement, 'Joining forces with Western Digital will enable the combined company to offer the broadest portfolio of industry-leading, innovative storage solutions to customers across a wide range of markets and applications.' One of those markets is certainly photography. What are you thoughts on the acquisition? Let us know in the comments.
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from After the Rain