SanDisk is reportedly approached by two rivals as IT and cloud consolidation continues
The discussions might not end with an acquisition, but in any case, SanDisk has apparently enlisted the help of a bank to facilitate the talks
The company told TechWeekEurope it did not comment on rumour and speculation.
Any deal however, would be the latest in a recent string of consolidations across the cloud and storage industry. In June, Intel acquired Altera for £11 billion, and Singapore-based firm Avago bought US counterpart Broadcom for £24 billion in May.
The news also comes as Dell bought EMC this week in the biggest technology acquisition of all time: £44 billion.
SanDisk showed poor Q2 financials, with revenues down 24 percent from the previous year. The company reported net income of £53 million.
“During the second quarter, we strengthened our portfolio with several new product launches in both the retail and commercial channels,” said CEO Sanjay Mehrotra. “We are making steady progress on all operational fronts, and remain focused on enhancing our financial performance.”
SanDisk, based in Silicon Valley, has started to lag behind the competition recently, as production delays and poor sales affect its enterprise flash products.
More problems came when Apple started production on its own chips for its devices, using Samsung chips over SanDisk’s SSDs.