Mergers and Acquistions News
Categories: Hardware
March 30th 2009, 18:42PM
The hard drive storage firm Western Digital (WD) has announced the acquisition of SiliconSystems for $65 million.
Since its founding in 2002, SiliconSystems has sold millions of solid-state drives for the embedded systems market.
In particular, SiliconSystems has focused on the network-communications, industrial, embedded computing, medical, military and aerospace sectors, which accounted for around a third of revenues in 2008.
WD says the acquisition enables further growth in SiliconSystem's existing markets and customer relationships and brings fresh intellectual property to the firm.
Michael Hajeck, a founder and chief executive officer of SiliconSystems, said: "We are extremely excited to be joining WD and enabling an even stronger future for our talented team.
"WD's strong balance sheet, sales reach, and operations and logistics capabilities will allow us to greatly accelerate our penetration of our existing markets."
Western Digital picked up three awards in March, including Components Vendor of the Year at the 2009 Channel Middle East Awards.
Related News
Categories
- BPO (28)
- Hardware (63)
- IT Services & Consulting (173)
- Media & Information Services (112)
- Semi-Conductors (64)
- Software (140)
- Telecoms (231)
Archive
- July 2010 (21)
- June 2010 (21)
- May 2010 (19)
- April 2010 (20)
- March 2010 (20)
- February 2010 (20)
- January 2010 (20)
- December 2009 (19)
- November 2009 (19)
- October 2009 (20)
- September 2009 (20)
- August 2009 (20)