Western Digital Secures SanDisk Acquisition

Western Digital has now officially purchased SanDisk, the flash memory manufacturer, after regulator approval was passed earlier this week. The agreement between both the storage companies was originally announced in October, in a deal which was worth nearly $19 billion. However, the Chinese company Unisplendour, that was planning on purchasing a 15 percent stake in Western Digital as part of the merge, backed out in February 2016, and hence lowered the value of the deal to around $16 billion. At that time, Western Digital went on to reaffirm its confidence in making the purchase, and this week the company stated that it was now looking forward to creating “the leading storage solutions company."
 
Steve Milligan, chief executive officer of Western Digital, states,
 
“Today is a significant day in the history of Western Digital. We are delighted to welcome SanDisk into the Western Digital family. This transformational combination creates a media-agnostic leader in storage technology with a robust portfolio of products and solutions that will address a wide range of applications in almost all of the world’s computing and mobile devices".
 
The company is really excited to focus on the numerous opportunities which are in front of them, from leading innovation to bringing the best in what they can offer customers. Additionally, the company will begin the work of completely realizing the value of the combination through executing on synergies, generating significant cash flow, along with rapidly deleveraging the balance sheet of the company and also creating significant long-term value for the shareholders. 
 
Sanjay Mehrotra, the co-founder of SanDisk states,
 
“As a combined company, we will be best positioned to address the demands for data storage, which is growing exponentially every year. Growth and change go hand in hand, and we couldn’t be happier to grow and change together with Western Digital. I look forward to contributing to realizing the potential of this combination as a member of the board.”