Sandisk Corporation (SNDK) to Acquire Nanya Technology, Here’s What You Need to Know

​Sandisk Corporation (NASDAQ:SNDK) is one of the Unstoppable Technology Stocks to Buy Now. On March 25, Sandisk Corporation (NASDAQ:SNDK) announced that its subsidiary Sandisk Technologies has entered an agreement to acquire around 139 million shares of Nanya Technology Corporation, worth roughly $1 billion.

​Nanya Technology Corporation is a Taiwan-based DRAM maker, and the agreed deal translates to 3.9% stake of Nanya’s fully diluted shares. The company noted they are buying the shares at a 15% discount to the company’s 30-day trading average, and the deal is also in compliance with Taiwan’s Securities and Exchange Act.

​According to the terms of the agreement, Sandisk won’t be able to sell or transfer shares for 3 years after the deal, except in limited cases allowed by Taiwanese law. In addition to this purchase, both companies have also entered a multi-year strategic supply deal, which will see Nanya supplying DRAM to the company.

​Sandisk Corp. (NASDAQ:SNDK) is a semiconductor and flash storage hardware company. It specializes in NAND flash technology, designing solid-state drives and embedded storage solutions for everything from enterprise data centers and cloud service providers to mobile devices, automotive systems, and IoT applications.

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