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Western Digital^®
Corp.
and Virident Systems, Inc. announced today that they have
entered into a definitive merger agreement under which Virident, a provider of
server-side flash storage solutions, will be acquired by HGST, a wholly owned
subsidiary of Western Digital. Virident will be acquired for approximately
$685 million in cash. This represents approximately $645 million in enterprise
value, net of Virident's estimated cash balance at closing.
Virident is a technology leader in one of the fastest growing segments in
enterprise and cloud computing. Virident solutions enable enterprises to
tackle performance-intensive datacenter applications with PCIe-based
enterprise flash storage solutions for virtualization, database, cloud
computing, and webscale applications. Virident's FlashMAX™ II can be installed
in any server and provides the highest capacity in a single low-profile card,
enabling organizations to maximize the use of valuable datacenter space,
reduce datacenter sprawl and provide uncompromising performance. In addition,
the company's FlashMAX Connect™ is the industry's first software suite to
deliver a shared server-side flash storage tier with enterprise-class
reliability.
The pending acquisition extends HGST's presence in enterprise SSDs, which IDC
predicts will grow from $2.5B in revenue in 2012 to $7B in revenue by 2017^1.
The acquisition further enhances the value of HGST solutions through
Virident's intelligent storage software. The integration with HGST will enable
Virident to accelerate its go-to-market efforts by leveraging HGST's strong
brand, extensive channel relationships, and global customer reach.
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