Monday, May 16, 2011

SanDisk Buys Pliant For $327M

Milpitas-based flash memory firm SanDisk announced this morning that it is buying Pliant Technology, the developer of enterprise solid state disk drives. SanDisk said it would pay approximately $327M in cash, plus equity-based incentives, for Pliant. Pliant develops SAS-protocol drives based on solid state memory, used in enterprise and high performance computing. Pliant is also based in Milpitas, and is venture backed by Arcturus Capital, Divergent Ventures, Lightspeed Venture Partners, and Menlo Ventures. Pliant had raised somewhere around $58M in venture funding.