SanDisk Expands its Commitment to the ‘Connected Device’ Market with a Strategic Investment in Altair Semiconductor
November 19 2014 - 8:00AM
Business Wire
SanDisk Ventures Invests in the Leading
Developer of High-Performance, Single-Mode LTE Chipsets
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.
About SanDisk Ventures
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.
About SanDisk
SanDisk Corporation (NASDAQ:SNDK), a Fortune 500 and S&P 500
company, is a global leader in flash storage solutions. For more
than 25 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 smart phones, tablets and PCs.
SanDisk’s consumer products are available at hundreds of thousands
of retail stores worldwide. For more information, visit
www.sandisk.com.
© 2014 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 markets and investments and industry
trends, which 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 risk that the companies and technologies in which we
invest may not perform in accordance with our expectations. Other
risks may be 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.
SanDisk CorporationLaura Bakken,
408-801-7653laura.bakken@sandisk.com
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