SanDisk Buys SMART Storage Systems

Milpitas-based SanDisk said Tuesday that it would acquire SMART Storage Systems, which develops enterprise solid state disk drives. SanDisk said it will pay $307M in cash plus equity incentive awards for the company. SMART Storage Systems was owned by Silver Lake, which acquired SMART Worldwide Holdings in 2011. SanDisk said that SMART Storage Systems had approximately $25M in revneues for its latest quarter, ended May 31, 2013.