SanDisk has issued a public statement of obfuscation, attempting to cast doubt on claims its been meeting with Samsung Electronics with a view to selling out.
As reported by Rafat Ali at PaidContent.org, Samsung Electronics is reportedly considering the acquisition of SanDisk. A Samsung spokesperson said: "We are looking at various opportunities regarding SanDisk but nothing has been decided yet."
Responding to the claims, SanDisk early this morning released its own statement, in which the company agreed talks are taking place, but declined to say just how advanced they have got.
“SanDisk periodically has conversations with multiple parties, including Samsung, regarding a variety of potential business opportunities. We evaluate all of these opportunities, but maintain a policy of not commenting on market rumors or speculation," the statement explained.
Potential motives behind Samsung's interest in the acquisition of SanDisk Corporation is pretty clear - SanDisk is the inventor and world’s largest supplier of flash storage cards, and a global leader in flash memory – from research, manufacturing and product design to consumer branding and retail distribution.
With both companies deeply immersed in flash-based solutions, Samsung already pays SanDisk an estimated $353.8 million a year in licensing expenses for the format.
SanDisk also offers its own Sansa line of iPod competitors and in June acquired a firm which creates technologies to stream music over WiFi.
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