SanDisk Corporation (Nasdaq:SNDK) has been acquired by Western Digital for $19 billion in cash and shares, reflecting an $86.50 share price for SanDisk, whose share spurted by over 6% in early Wall Street trading. Final closing of the deal is slated for the third quarter of 2016.
SanDisk is headquartered in California, and the company also has plants in Japan. The company also has development centers in Israel in Kfar Saba, Omer, and Tefen with a combined total of 650 employees. SanDisk is also opening a site in Yafia, which is expected to hire dozens of additional employees from Haifa and Nazareth, especially from the Arab sector. SanDisk's Israel site manager is Shahar Bar-or.
Sandisk was founded by Israeli-born Eli Harari and many of its Israeli employees joined the firm when it acquired Dov Moran's Kfar Saba-based flash storage developer M-Systems for $1.5 billion. it remains unclear how Sandisk's acquisition will affect its Israeli employees.
It was recently reported SanDisk was negotiating an acquisition deal with both Western Digital and Micron Technology.
Published by Globes [online], Israel business news - www.globes-online.com - on October 21, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015
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