SanDisk acquires SSD developer Pliant Technology

Flash memory manufacturer SanDisk is to acquire Pliant Technology, a developer of enterprise solid state drives (SSD). 

Under the terms of the agreement, SanDisk will pay approximately $327m (£202m) in cash and provide certain equity-based incentives. 

The transaction, which has been approved by the boards of directors of both companies, is subject to customary closing conditions and expected to close by the end of SanDisk’s second fiscal quarter.