Chipmaker SanDisk Corp said it would purchase flash storage device maker Fusion-io Inc for about $1.1 billion. SanDisk's offer of $11.25 per share represents a premium of 21 percent to Fusion-io's Friday close.
Fusion-io Inc (Fusion) is a provider of datacenter solutions that accelerate databases, virtualization, cloud computing, big data, and the applications that help drive business from the smallest e-tailers to some of the largest data centers, social media leaders, and Fortune Global 500 businesses. Shares of FIO traded higher by 5.1% or $0.45/share to $9.28. In the past year, the shares have traded as low as $7.77 and as high as $15.59. On average, 2716180 shares of FIO exchange hands on a given day and today's volume is recorded at 3288310.
SanDisk Corporation designs, develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies. Shares of SNDK fell by 0.15% or $-0.15/share to $98.47. In the past year, the shares have traded as low as $53.09 and as high as $100.81. On average, 3752740 shares of SNDK exchange hands on a given day and today's volume is recorded at 2266119.
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