Sept 9 Hard drive maker Western Digital Corp
said it would buy Virident Systems Inc, a maker of flash
memory for servers, for $685 million in cash.
Western Digital has been trying to expand its presence in
the solid state, or flash storage, market with its recent
In June, Western Digital bought troubled solid-state drive
(SSD) maker Stec Inc to become one of the top players
in the high-growth industry.
"We have established a competitive position in the
enterprise SSD space and with our recently announced
acquisitions we are increasing our commitment to become an even
more significant player in this high growth segment," said
Western Digital Chief Executive Steve Milligan.
RBC Capital Markets was the financial adviser to Western
Digital and BofA Merrill Lynch advised Virident.
The acquisition is expected to close in the fourth quarter
of calendar year 2013.