Flash memory storage solutions provider SanDisk has acquired Pliant Technology, a developer of enterprise solid state drives, the company announced this morning.
Under the terms of the agreement, SanDisk will pay approximately $327 million in cash and provide certain equity-based incentives.
Pliant Technology offers SSDs that integrate into enterprise information systems. The company has approximately 80 employees and is based in Milpitas, California.
The company raised over $50 million since its founding in 2006.
The transaction, which has been approved by the boards of directors of both companies, is subject to customary closing conditions, including regulatory review and approval, and it is expected to close by the end of SanDisk’s second fiscal quarter.