Solid State Drives (SSDs): SanDisk Announces Definitive Agreement to Acquire SMART Storage Systems.

In its dynamic to grow,  diversify and to consolidate, its Portfolio of services and products, SanDisk Corporation a global leader in flash memory storage solutions, has announced a definitive agreement to
acquire SMART Storage Systems.

This acquisition aims to enable SanDisk to address a $1.6 billion market opportunity in enterprise SATA products, and complements its strong enterprise SAS product portfolio. This means: products qualified with six of the top seven storage OEMs worldwide for SanDisk.

Under the terms of the agreement, SanDisk will pay approximately $307 million in cash. The transaction, which has been approved by the boards of directors of both companies, is subject to customary closing conditions, including regulatory review and approval, and it is expected to close in August, 2013.

Regarding SMART Storage Systems revenue, it delivered approximately $25M of revenue in its latest quarter ended May 31, 2013.

About SMART Storage Systems

SMART Storage Systems is a technology leader in the design, development and deployment of current and next-generation enterprise solid-state storage products. Combining leading-edge, enterprise-class design, and proven world-class support, SMART Storage Systems leverages its deep expertise in flash and enterprise storage technology. SMART Storage Systems delivers high-quality, high-reliability solutions to a broad customer base, including tier one storage and server OEMs.

About SanDisk

SanDisk Corporation (NASDAQ: SNDK) is a global leader in flash memory storage solutions, from research and development, product design and manufacturing to branding and distribution for OEM and retail channels. Since 1988, SanDisk's innovations in flash memory and storage system technologies have provided customers with new and transformational digital experiences. SanDisk's diverse product portfolio includes flash memory cards and embedded solutions used in smart phones, tablets, digital cameras, camcorders, digital media players and other consumer electronic devices, as well as USB flash drives and solid-state drives (SSD) for the computing market. SanDisk's products are used by consumers and enterprise customers around the world.

SanDisk is a Silicon Valley-based S&P 500 and Fortune 500 company, with more than half its sales outside the United States.