Sunnyvale-Based SanDisk to Acquire Matrix Semiconductor for $250 Million

Sunnyvale, Calif. -- SanDisk, the Sunnyvale-based maker of flash storage cards,
said that it has signed a deal to acquire Santa Clara-based Matrix
Semiconductor, a developer of 3-D integrated circuits, for about $250 million.
The deal consists of $12 million in cash, and the remainder in SanDisk stock.
Matrix's 3-D memory is used for storage applications that do not require
multiple rewrites and where low cost is the paramount consideration, such as
video games, music and other content, or for archiving. The deal is expected to
close by the end of the year.
http://www.sandisk.com/pressrelease/20051020b.htm