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SanDisk buying SSD developer Pliant Technology

SanDisk will pay $327 million in cash and offer certain stock incentives to acquire Pliant, considered a leading developer of enterprise-class solid-state drives.

Flash memory maker SanDisk is acquiring SSD developer Pliant Technology for $327 million in cash and certain stock-based incentives.

Announced by SanDisk today, the deal has already been approved by the boards of both companies and is expected to close by the end of SanDisk's second fiscal quarter in June, pending the usual regulatory reviews.

Headquartered in Milpitas, Calif., Pliant Technology sells flash-based SSDs (solid-states drives) specifically for the enterprise market. As such, the drives are designed to deliver high performance and reliability for use in data centers and similar environments.

"Flash memory is making significant inroads into the enterprise by dramatically increasing application performance and reducing power consumption," SanDisk CEO Sanjay Mehrotra said in a statement. "We believe that the combination of Pliant's innovative technology and enterprise-level system expertise with SanDisk's high-quality, large-scale MLC (multi-level cell) memory production is a winning value proposition for customers. Our advanced flash technology road map and flash management capability will complement Pliant's strengths and allow us to lead the way in reliability and performance in the enterprise SSD market."