31 July 2006 — SunnyVale (CA): SanDisk is to acquire flash memory company, msystems for $1.3 billion.
Eli Harari, chairman and CEO of SanDisk. Said: "SanDisk and msystems, over the past 18 years, have been leading innovators in the flash storage market. This strategic acquisition will give us the critical mass and complementary products, customers, channels, technology and manufacturing base to take our shared vision to the next level."
He continued: "The NAND flash data storage business is in its early stages and we believe the market opportunity is largely untapped."
Completion of the transaction is expected during the fourth quarter.