SanDisk Pays Silver Lake $307M For Smart Worldwide Unit

Law360, New York (July 2, 2013, 3:27 PM EDT) -- Just two years after it snatched up Smart Modular Technologies Inc. for $645 million, private equity firm Silver Lake Partners said Tuesday it is selling off a piece of Smart Worldwide Holdings' memory and storage business to SanDisk Corp. for approximately $307 million.

Silver Lake and its portfolio company Smart Worldwide said they have entered into an agreement for SanDisk to acquire Smart Storage Systems for cash and additional equity-related incentives.

Smart Storage, which was spun off from Smart Worldwide in connection with Silver Lake and...
To view the full article, register now.