SanDisk to acquire Fusion-io for $1.1 billion

Flash storage solutions vendor SanDisk is set to acquire Fusion-io, a developer of flash-based PCIe hardware and software, for $1.1 billion.

The acquisition will enable SanDisk to strengthen its presence in application performance market for large enterprises and hyperscale datacenters.

Fusion-io will enable the flash-transformed data center, helping companies better manage increasingly heavy data workloads at a lower total cost of ownership.

Sanjay Mehrotra, president and CEO at SanDisk, said: “Customers will benefit from the addition of Fusion-io’s leading PCIe solutions to SanDisk’s vertically integrated business model.

The transaction will close in the third quarter of SanDisk’s fiscal 2014 and be accretive to non-GAAP earnings in the second half of SanDisk’s fiscal 2015.