Eli Harari’s SanDisk, flash memory storage devices and software, is in merger talks with at least two rival chip manufacturers, Micron and Western Digital, people familiar with the matter told FT.
The California-based company, has a market capitalisation of about $12.6 billion at Tuesday’s closing price.
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SanDisk has hired a bank to explore a potential sale, Bloomberg reported, citing sources familiar with the matter.
Merger and acquisition activity in the tech sector has reached the highest level since the dotcom bubble of the late 1990s, hitting about $370bn in value, according to Reuters.
SanDisk has faced difficulties earlier this year after Its shipments to Apple started to decline last year. In 2013 Apple had been a fifth of SanDisk revenues.
READ MORE: SANDISK
Dr. Eli Harari, co-founder, and retired chairman and chief executive officer of SanDisk, was awarded the National Medal of Technology and Innovation by the National Science Foundation for his significant contributions More…
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