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Press Release, Technology

Western Digital Completes Acquisition Of SanDisk

May 16, 2016

Western Digital Corporation announced last May 13, 2016 that its wholly-owned subsidiary Western Digital Technologies, Inc. has completed the acquisition of SanDisk Corporation. The addition of SanDisk makes Western Digital Corporation a comprehensive storage solutions provider with global reach, and an extensive product and technology platform that includes deep expertise in both rotating magnetic storage and non-volatile memory.

The Company also indicated that the debt financing associated with this transaction has been consummated and that the previously obtained funds from this financing have been released from escrow to Western Digital Technologies, Inc.

“Today is a significant day in the history of Western Digital,” said Steve Milligan, chief executive officer of Western Digital. “We are delighted to welcome SanDisk into the Western Digital family. This transformational combination creates a media-agnostic leader in storage technology with a robust portfolio of products and solutions that will address a wide range of applications in almost all of the world’s computing and mobile devices. We are excited to now begin focusing on the many opportunities before us, from leading innovation to bringing the best of what we can offer as a combined company to our customers. In addition, we will begin the work to fully realize the value of this combination through executing on our synergies, generating significant cash flow, as well as rapidly deleveraging our balance sheet, and creating significant long-term value for our shareholders.”

 

WD Logo Colored

 

The integration process will begin immediately through the joint efforts of teams from both companies. As previously announced, Steve Milligan will continue to serve as chief executive officer of Western Digital, which will remain headquartered in Irvine, California. Sanjay Mehrotra, co-founder, president and chief executive officer of SanDisk, will serve as a member of the Western Digital Board of Directors, effective immediately.

“As a combined company, we will be best positioned to address the demands for data storage, which is growing exponentially every year,” said Sanjay Mehrotra. “Growth and change go hand in hand, and we couldn’t be happier to grow and change together with Western Digital. I look forward to contributing to realizing the potential of this combination as a member of the board.”

Under the terms of the transaction, each outstanding share of SanDisk common stock was converted into the right to receive $67.50 per share in cash and 0.2387 shares of Western Digital common stock.

SanDisk shareholders looking for information with regard to the payment of the merger consideration should review the Public FAQ available in the Investor Relations section of our website at investor.wdc.com.

Source: Press Release

Sandisk Western Digital
by Athena Jeunnesse Mae Tria 
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About Athena Jeunnesse Mae Tria

Athena finished her degree on Bachelor of Arts, Major in Legal Management in the University of Sto. Tomas, Manila, Philippines . She took her primary, secondary, and intermediate studies in Saint Paul College of Makati . She is a single mom, currently a law student and a full-time Virtual Assistant. She started blogging in 2004 and had her first paid domain in the year 2011. She covered events since early 2012. She loves to write, take pictures, read books, dance, Netflix, anime, and eat. Despite her busy schedule, she finds time for her other interests like PC and console gaming, and livestreaming on Twitch or YouTube. She also loves a few bottles of beer. ;)

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Hi! Welcome to my blog! My name is Athena. I’m a blogger, streamer and a law student. I’m currently working full-time as a Virtual Assistant. I love playing, reading, writing and traveling. I have been blogging since 2004 and moved to my self-hosted site in 2011. I started livestreaming in 2017 on Twitch, but mostly streaming now on Facebook Gaming.

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