Sandisk to pursue emerging memory technology after split
Western Digital Corp. (San Jose, Calif.) is due to a split off its flash memory business as Sandisk Corp. on February 23.
In a statement to shareholders Western Digital said it will continue as a hard disk drive business after splitting off Sandisk, which will deliver flash memory products while pursuing the development of emerging disruptive memory technologies.
Some 80 percent of the Sandisk shares are being allocated to Western Digital shareholders at a rate of one-third of share for each Western Digital share held on February 12. This will give SanDisk about 42 percent of the market capitalization of Western Digital when the two companies are initially traded on NASDAQ on February 23. Sandisk’s CEO is David V. Goeckeler
SanDisk was officially acquired by Western Digital on May 12, 2016.
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