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MILPITAS, Calif., Aug. 12, 2013 – SanDisk Corporation (NASDAQ: SNDK), a global leader in flash memory storage solutions, today announced that its strategic investment arm, SanDisk Ventures, has invested in Tegile Systems. Tegile is bringing a new generation of affordable hybrid storage arrays incorporating flash technology to enterprise customers. The Tegile solution provides better price-performance than traditional all-hard-disk-drive (HDD) storage arrays and offers a compelling way to address evolving enterprise requirements in a cost-effective manner. Specific financial terms of the SanDisk investment were not disclosed.
Through its strategic partnership with SanDisk, Tegile will be able to leverage SanDisk’s expertise and capabilities as one of the world’s leading innovators of Flash memory technology.
“With our unique flash-based hardware and software solutions and vertically integrated business model, SanDisk is helping enable a new generation of companies transform the enterprise,” said Sumit Sadana, executive vice president and chief strategy officer at SanDisk. “We believe that Tegile is well positioned to bring the significant benefits of flash technology to enterprise customers through their innovative hybrid system solution.”
Tegile’s solutions balance performance and cost to provide a unified storage offering that combines both traditional HDDs with flash storage. Tegile currently has hundreds of customers in segments ranging from the financial services sector to the manufacturing, government, legal, healthcare and transportation industries.
“We welcome flash industry leader SanDisk as a strategic partner and investor in Tegile,” said Rohit Kshetrapal, chief executive officer of Tegile. “Together with our other Series C partners, our relationship with SanDisk will enable us to unlock the potential of flash technology in the enterprise, and leverage the significant growth opportunities ahead of us.”
SanDisk launched SanDisk Ventures in 2012 with the goal of investing $75 million over a three-year period in select companies with promising technologies that extend the value proposition of flash memory in targeted applications. By collaborating with SanDisk, companies like Tegile gain access to SanDisk’s broad product portfolio and world-class technical expertise, as well as expanded customer and channel opportunities.
SanDisk Corporation (NASDAQ: SNDK) is a global leader in flash memory storage solutions, from research and development, product design and manufacturing to branding and distribution for commercial and retail channels. Since 1988, SanDisk’s innovations in flash memory and storage system technologies have provided customers with new and transformational digital experiences. SanDisk’s diverse product portfolio includes flash memory cards and embedded solutions used in smart phones, tablets, digital cameras, camcorders, digital media players and other consumer electronic devices, as well as USB flash drives and solid-state drives (SSD) for the computing market. SanDisk’s products are used by consumers and enterprise customers around the world.
SanDisk is a Silicon Valley-based S&P 500 and Fortune 500 company, with more than half its sales outside the United States. For more information, visit www.sandisk.com.
© 2013 SanDisk Corporation. All rights reserved. SanDisk and the SanDisk logo are trademarks of SanDisk Corporation, registered in the United States and other countries. Other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s).
This news release contains certain forward-looking statements, including expectations for the flash memory market, the market for the products of the companies we invest in, the capabilities of such products, and results of our collaboration that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Other risks may be detailed from time-to-time under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission filings and reports, including, but not limited to, our most recent quarterly report on Form 10-Q and our annual report on Form 10-K. We do not intend to update the information contained in this press release.
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