MILPITAS, Calif., Nov. 19, 2014 – SanDisk Corporation (NASDAQ: SNDK), a global leader in flash storage solutions, today announced that the company’s venture arm, SanDisk Ventures, has invested in Altair Semiconductor, the leading developer of high-performance, single-mode LTE chipsets. Altair’s high-performance products bring 4G LTE Internet connectivity to tablets, netbooks, USB dongles, portable hotspots, fixed routers and modems, machine-to-machine applications and other devices.
SanDisk’s investments through SanDisk Ventures enable the company to expand the possibilities of storage by advancing technologies and trends that are shaping the way that data is captured, stored, shared and managed.
“The combination of flash storage and LTE chipset technology offers the potential to deliver untethered Internet and device-to-device connectivity to a wide range of consumer electronics, and ultimately brings us closer to making the ‘Internet of Things’ (IoT) pervasive,” said Sumit Sadana, executive vice president and chief strategy officer, SanDisk. “Our strategic investment and collaboration with Altair will enable SanDisk to optimize our flash storage solutions for this important ecosystem and further strengthen our potential for growth in this highly dynamic market segment.”
Qualified for use by leading wireless carriers globally, Altair’s low-power and cost-efficient LTE chipset solutions enable a broad range of consumer and IoT devices to connect to each other as well as to the cloud. This significantly expands the potential of connected consumer and computing applications. Over 30 connected device manufacturers use Altair chips to power millions of end-user devices deployed commercially on 4G LTE networks around the world.
“SanDisk has made a name for itself both as a flash storage leader and an innovator, and we are pleased to welcome the company’s investment in Altair,” said Oded Melamed, co-founder and chief executive officer of Altair Semiconductor. “SanDisk’s deep technical expertise and strong mobile and connected solution ecosystem relationships will be incredibly valuable as we continue expand our LTE market leadership.”
Terms of the investment were not disclosed.
SanDisk Ventures is an initiative to invest $75 million over a three-year period in companies with promising technologies that extend the value proposition of flash-based solutions. By collaborating with SanDisk, these companies gain access to a broad product portfolio from a recognized leader in flash storage, world-class technical expertise, customer introductions and an expanded channel for their products and services.
SanDisk Corporation (NASDAQ: SNDK), a Fortune 500 and S&P 500 company, is a global leader in flash storage solutions. For more than 26 years, SanDisk has expanded the possibilities of storage, providing trusted and innovative products that have transformed the electronics industry. Today, SanDisk’s quality, state-of-the-art solutions are at the heart of many of the world's largest data centers, and embedded in advanced smartphones, tablets and PCs. SanDisk’s consumer products are available at hundreds of thousands of retail stores worldwide. For more information, visit www.sandisk.com.
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This news release contains certain forward-looking statements, including expectations for markets, products, industry trends and customers that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include among others: the market demand for our products may grow more slowly than our expectations or our products may not be available in the capacities that we expect or perform as expected, or the other risks detailed from time-to-time 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 news release.