SanDisk Corporation (NASDAQ:SNDK), a global leader in flash memory storage solutions, announced it has completed its acquisition of Pliant Technology, Inc., a leading developer of enterprise solid state drives (SSD). With the completion of the transaction, Pliant Technology becomes SanDisk's Enterprise Storage Solutions business.
ABOUT SANDISK
SanDisk Corporation (NASDAQ: SNDK) is a global leader in flash memory storage solutions, from research and development, product design and manufacturing to branding and distribution for OEM and retail channels. Since 1988, SanDisk's innovations in flash memory and storage system technologies have provided customers with new and transformational digital experiences. SanDisk's diverse product portfolio includes flash memory cards and embedded solutions used in smart phones, tablets, digital cameras, camcorders, digital media players and other consumer electronic devices, as well as USB flash drives and solid-state drives (SSD) for the computing market. SanDisk's products are used by consumers and enterprise customers around the world.
SanDisk is a Silicon Valley-based S&P 500 and Fortune 500 company, with more than half its sales outside the United States. For more information, visit www.sandisk.com.
ABOUT PLIANT TECHNOLOGY
Pliant Technology's Enterprise Flash Drives (EFDs) are a new class of solid-state storage devices designed to integrate seamlessly into enterprise information systems and dramatically improve performance, reliability, energy efficiency, and TCO. Pliant's Lightning EFD family delivers breakthrough improvements over today's hard drive and SSD storage solutions for a range of data I/O intensive enterprise applications. Pliant Technology has approximately 80 employees and is based in Milpitas, California.
FORWARD LOOKING INFORMATION
This news release may contain certain forward-looking information related to the expected benefits of the acquisition that are based on our current expectations and are subject to numerous risks and uncertainties that may cause this information to be inaccurate and may significantly harm our business, financial condition and results of operations. Risks that may cause this forward-looking information to be inaccurate include among others:
we may not be able to effectively assimilate and integrate Pliant's operations, personnel, technologies, products and information systems;
we may experience delays in the timing and successful integration of Pliant and, accordingly, we may not achieve the expected benefits from the acquisition;
we may not be able to maintain and grow customer relationships required to achieve our anticipated revenue and margins;
Pliant's products may not perform as expected or could fail to meet customer qualification requirements;
through this acquisition, we are entering into the enterprise storage market, which is a new market for us, and we may not be successful in capturing the intended benefits of this acquisition;
the enterprise SSD market may neither grow as expected nor incorporate MLC technology as expected;
Pliant's key personnel may decide not to work for us for a long period after the acquisition, or at all;
the integration of Pliant's business, personnel and operations may disrupt our ongoing business, distract our management and employees, harm our reputation and increase our expenses;
we may incur one-time charges, increased contingent liabilities, adverse tax consequences, depreciation or deferred compensation charges, amortization of intangible assets or impairment of goodwill, which could harm our results of operations; and
the other risks detailed from time to time under the caption "Risk Factors" and elsewhere in our Securities and Exchange Commission filings and reports, including, but not limited to, our Quarterly Report on Form 10-Q for the first fiscal quarter of 2011.
SanDisk and the SanDisk logo are trademarks of SanDisk Corporation, registered in the United States and other countries. Other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s).