Flash memory maker Sandisk Corp (SNDK.O) will purchase Pliant Technology Inc for $327 million to speed up its entry into the business of providing low-power, faster storage for companies. Sandisk shares rose as much as 7 percent in morning trade, signaling that investors approve of the deal. Bankrolled through cash and stock incentives, the acquisition will expand Sandisk's business into the market of solid-state data storage for large companies. It melds a supplier of flash memory -- used in solid-state drives, and much faster than hard-drive technology -- with a company with expertise and a big client roster, analysts said.
SanDisk Corporation (SanDisk) is engaged in designing, developing and manufacturing data storage solutions in a range of form factors using the flash memory, controller and firmware technologies. Shares of SNDK traded higher by 3.91% or $1.82/share to $48.31. In the past year, the shares have traded as low as $33.03 and as high as $53.61. On average, 6656030 shares of SNDK exchange hands on a given day and today's volume is recorded at 9287190.
Source
