Flash storage player Fusion-IO looks set to be acquired by solid state disk (SSD) specialist SanDisk for approximately $1.1 billion.
SanDisk confirmed in a statement that it has signed a definitive agreement to purchase Fusion-IO, who specialises in the development of PCIe-based Flash products for enterprise datacentres.
One of the firm's most high-profile clients is Facebook, who reportedly uses its technology to ensure speedy performance of the social networking giant's site functions.
The deal has won the approval of the board of directors of both companies, but still requires sign-off from various US regulatory bodies before it can be completed.
It's anticipated the deal will close in the third quarter of SanDisk's financial year.
Sanjay Mehortra, president and CEO of SanDisk, said acquiring Fusion-IO will allow the company to step up its efforts to get more customers to use Flash technology in their datacentres.
"Customers will benefit from the addition of Fusion-IO's leading PCIe solutions to SanDisk's vertically integrated business model," he said.
"We look forward to working with the world-class engineering and go-to-market teams from Fusion-IO to provide high-value solutions to customers across the world."
Shane Robison, chairman and CEO of Fusion-IO, said the deal represents a "compelling opportunity" for his firm's customers, shareholders and employees.
"Fusion-IO's innovative hardware and software solutions will be augmented by SanDisk's worldwide scale and vertical integration, enabling a combined company that can offer an even more compelling value proposition for customers and partners."
IT Pro contacted Fusion-IO for further details on what the merger means for its branding and staff retention, but had not received a reply at the time of publication.
