SanDisk Acquires Newark Data Company for $307 Million

Flash memory giant SanDisk, known for their popular digital camera and cell phone memory cards, has acquired Newark-based Smart Storage Systems for a reported $307 million. 

Smart Storage is a maker of solid state drives and its technology will help improve the performance of Milpitas-based SanDisk’s data storage chips, which are used in cell phones, tables, computers and other portable devices, according to the Contra Costa Times.

Prior to the recent acquisition Smart Storage reported $25 million in sales of its products for the fiscal quarter ending in May.

SanDisk announced the acquisition last Tuesday and hopes to complete the deal by the end of August, according to VentureBeat.com.