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.

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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.