Western Digital Is Dropping $19B To Acquire SanDisk
Acquiring flash memory company SanDisk could carry Western Digital into the future as hard disk drive demand drops off.
Western Digital might have just secured its future by striking a deal with SanDisk to buy the flash-memory maker in a $19 billion cash and stock deal. (Video via SanDisk)
Western Digital has had a rough time in recent years because its main products — hard disk drives — have seen manufacturer demand drop off. (Video via Western Digital)
The lack of interest in hard drives is partly due to a saturated computer market that has seen falling sales for a while now. And the devices that are selling tend to not need — or want — what Western Digital is selling.
Hard drives: We've used them for years, but they process data more slowly than flash memory; they break more easily than flash memory; and they tend to take up more space than flash memory. (Video via Western Digital)
That's why flash memory is used in tablets, smartphones, and even in a lot of popular computer models. (Video via SanDisk)
The Wall Street Journal writes that SanDisk might've been looking to be bought, too. And if that was the case, industry watchers agree — as a buyer, Western Digital makes sense. (Video via Western Digital)
Starbucks' new CEO Laxman Narasimhan takes his seat
Narasimhan succeeds longtime Starbucks leader Howard Schultz, who came out of retirement last spring to serve as interim CEO.
Amazon plans to eliminate 9,000 positions
Amazon announced it will cut 9,000 jobs from technology branches of the company, advertising and Twitch.
Silicon Valley Bank parent company files for bankruptcy
SVB Financial Group filed for Chapter 11 bankruptcy days after it was targeted in a class action lawsuit by shareholders.
Saudi Arabia frees American imprisoned over critical tweets
The Florida man, who made comments criticizing Crown Prince Mohammed bin Salman, was arrested in 2021 when he arrived in Saudi Arabia to visit family.
New law puts Wyoming at forefront of abortion pill bans
Before a law signed Friday by Wyoming Republican Gov. Mark Gordon, no state specifically banned abortion pills.
'Emerging fungal threat' spreading in the US
The CDC says people in health care settings are most vulnerable to contracting candida auris.