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WD’s $18.1 B Acquisition Of SanDisk Is Done

Discussion in 'General NAS Discussion' started by Julio Urquidi, May 13, 2016.

  1. Julio Urquidi

    Julio Urquidi News Editor

    Joined:
    Apr 12, 2016
    Messages:
    339
    Western Digital Technologies (WD) announced that Sandisk is now a Western Digital company with post-acquisition related activities starting immediately.
    sandiskwdacquisition.jpg

    Three days after getting Chinese approval for its acquisition of SanDisk, Western Digital Corporation (WDC), announced that its WD subsidiary completed the process of making SanDisk Corporation a WDC company, stretching WD’s existing reach, even further, into the consumer and business storage markets.

    For the acquisition to happen, Western Digital Corporation had to raise funds from different sources including $5.225 billion in secured notes, $8.875 billion in loans, $1 billion in revolving credit, and $3 billion in a raised bridge facility, altogether totaling $18.1 billion.

    SanDisk took a huge step into Enterprise storage a couple years ago after it acquired Fusion-io, and now the SanDisk brand, its 74,000 employees, and its products will fall in line alongside WD and HGST as a WDC company.

    As for executive appointments, SanDisk founder and CEO, Sanjay Mehrotra, will be added to the WDC board of directors.