SanDisk acquiring Fusion-io for $1.1 billion

SUPERIOR – California-based SanDisk Corp. (Nasdaq: SNDK) announced Monday that it has a deal to acquire Fusion-io Inc. (NYSE: FIO), a Salt Lake City storage company with operations in Superior.

SanDisk, a maker of flash memory products for smartphones, tablets, personal computers and data centers, has agreed to pay $1.1 billion in cash for Fusion-io, which specializes in flash-based hardware and software solutions. The deal amounts to $11.25 per share, and is expected to close in the third quarter.

Officials for SanDisk and Fusion-io could not be reached Monday, and the fate of Fusion-io’s local operations was not immediately known.

SPONSORED CONTENT

Empowering communities

Rocky Mountain Health Plans (RMHP), part of the UnitedHealthcare family, has pledged its commitment to uplift these communities through substantial investments in organizations addressing the distinct needs of our communities.

Fusion-io paid $119 million a little more than a year ago to purchase Louisville-based NexGen Storage Inc. As of December, Fusion-io employed 100 people locally.