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TechPowerUp News: WD Buys SanDisk, a Mighty Gaming AIO, and SilverStone RVX01

In this week's TechPowerUp News - WD's whopping $19 billion acquisition of NAND flash major SanDisk and what it could mean for both brands, MSI's insanely powerful all-in-one gaming desktop; and a fully-integrated NUC desktop by Intel following three generations of the revolutionary platform. Also, an exclusive sneak peek at SilverStone's Raven RVX01 mid-tower case!

Western Digital Buying SanDisk in $19 Billion Deal

Western Digital Corporation and SanDisk Corporation today announced that they have entered into a definitive agreement under which Western Digital will acquire all of the outstanding shares of SanDisk for a combination of cash and stock. The offer values SanDisk common stock at $86.50 per share or a total equity value of approximately $19 billion, using a five-day volume weighted average price ending on October 20, 2015 of $79.60 per share of Western Digital common stock. If the previously announced investment in Western Digital by Unisplendour Corporation Limited closes prior to this acquisition, Western Digital will pay $85.10 per share in cash and 0.0176 shares of Western Digital common stock per share of SanDisk common stock; and if the Unisplendour transaction has not closed or has been terminated, $67.50 in cash and 0.2387 shares of Western Digital common stock per share of SanDisk common stock. The transaction has been approved by the boards of directors of both companies.

The combination is the next step in the transformation of Western Digital into a storage solutions company with global scale, extensive product and technology assets, and deep expertise in non-volatile memory (NVM). With this transaction, Western Digital will double its addressable market and expand its participation in higher-growth segments. SanDisk brings a 27-year history of innovation and expertise in NVM, systems solutions and manufacturing. The combination also enables Western Digital to vertically integrate into NAND, securing long-term access to solid state technology at lower cost.

Seagate Completes Acquisition of Dot Hill Systems

Seagate Technology plc, a world leader in storage solutions, today announced it has completed its previously announced acquisition of Dot Hill Systems Corp., a trusted supplier of innovative software and hardware storage systems.

Under the terms of the definitive agreement signed between Seagate and Dot Hill, an indirect wholly owned subsidiary of Seagate commenced a tender offer for all of the outstanding shares of Dot Hill in an all-cash transaction valued at $9.75 per share, or a total of approximately $696 million on a fully-diluted equity value basis.

The tender offer and the second step merger contemplated by Seagate's definitive agreement with Dot Hill were completed on October 6, 2015. As a result, Dot Hill has become an indirect wholly owned subsidiary of Seagate and will no longer be listed for trading on the NASDAQ Global Market.

Razer Acquires OUYA Software Assets

Razer, a world leader in connected devices and software for gamers, today confirmed it acquired the software assets of OUYA, including its content catalog and online retail platform. The technical team and developer relations personnel behind OUYA, the leading Android game platform for the television, have joined the software team of Razer, the company additionally reported. Financial details of the transaction, which closed on June 12, 2015, were not disclosed.

"Razer has a long-term vision for Android TV and Android-based TV consoles, such as the Xiaomi Mi Box and Alibaba Tmall Box, to which OUYA already publishes," says Razer Co-Founder and CEO Min-Liang Tan. "OUYA's work with game developers, both triple A and indies, went a long way in bringing Android games to the living room and Razer intends to further that work. This acquisition is envisaged to usher more developers and content to the Android TV platform."

GLOBALFOUNDRIES Completes Acquisition of IBM Microelectronics Business

GLOBALFOUNDRIES today announced that it has completed its acquisition of IBM's Microelectronics business. With the acquisition, GLOBALFOUNDRIES gains differentiated technologies to enhance its product offerings in key growth markets, from mobility and Internet of Things (IoT) to Big Data and high-performance computing. The deal strengthens the company's workforce, adding decades of experience and expertise in semiconductor development, device expertise, design, and manufacturing. And the addition of more than 16,000 patents and applications makes GLOBALFOUNDRIES the holder of one of the largest semiconductor patent portfolios in the world.

"Today we have significantly enhanced our technology development capabilities and reinforce our long-term commitment to investing in R&D for technology leadership," said Sanjay Jha, chief executive officer of GLOBALFOUNDRIES. "We have added world-class technologists and differentiated technologies, such as RF and ASIC, to meet our customers' needs and accelerate our progress toward becoming a foundry powerhouse." Through the addition of some of the brightest and most innovative scientists and engineers in the semiconductor industry, GLOBALFOUNDRIES solidifies its path to advanced process technologies at 10 nm, 7 nm, and beyond.

Intel Lowers First-Quarter Revenue Outlook

Intel Corporation today announced that first-quarter revenue is expected to be below the company's previous outlook. The company now expects first-quarter revenue to be $12.8 billion, plus or minus $300 million, compared to the previous expectation of $13.7 billion, plus or minus $500 million.

The change in revenue outlook is a result of weaker than expected demand for business desktop PCs and lower than expected inventory levels across the PC supply chain. The company believes the changes to demand and inventory patterns are caused by lower than expected Windows XP* refresh in small and medium business and increasingly challenging macroeconomic and currency conditions, particularly in Europe.

The data center business is meeting expectations.

Intel Acquires PasswordBox, an Award-Winning Digital Identity Manager

Today, Intel announced the acquisition of PasswordBox, a Montreal-based and award-winning provider of a cross-platform identity management service that gives users a convenient way to log into all of their websites and applications from any device without having to type or remember passwords. As a result of this acquisition, PasswordBox will become a part of the Safe Identity organization within Intel Security Group. The Safe Identity organization is committed to delivering solutions that reduce the pain of passwords, simplify and strengthen security and providing consumers with easy access to their digital lives.

Secure passwords are essential to protecting sensitive personal data. According to a recent report by consulting firm Deloitte, more than 90 percent of user-generated passwords are vulnerable to hacking, citing that the 10,000 most common passwords could access close to 98 percent of all accounts.1 Last year, Experian found that the average user had 26 password-protected online accounts but used only five different passwords.2 In fact, nearly 37 percent of users have asked for assistance on their username or password for at least one website per month. Together, Intel Security and PasswordBox will work to eliminate these problems.

Lenovo Completes Acquisition of Motorola Mobility from Google

Lenovo and Google announced today that Lenovo's acquisition of Motorola Mobility from Google is complete. The acquisition of the Motorola brand and Motorola's portfolio of innovative smartphones like Moto X, Moto G, Moto E and the DROID series, as well as the future Motorola product roadmap, positions Lenovo as the world's third largest maker of smartphones.

Lenovo will operate Motorola as a wholly-owned subsidiary. Motorola's headquarters will remain in Chicago. With the completion of the acquisition, Lenovo welcomes the addition of a new portfolio company with nearly 3,500 employees around the world - including about 2,800 in the U.S. - who design, engineer, sell and support Motorola's outstanding devices.

GLOBALFOUNDRIES To Acquire IBM's Microelectronics Business

IBM and GLOBALFOUNDRIES today announced that they have signed a Definitive Agreement under which GLOBALFOUNDRIES plans to acquire IBM's global commercial semiconductor technology business, including intellectual property, world-class technologists and technologies related to IBM Microelectronics, subject to completion of applicable regulatory reviews. GLOBALFOUNDRIES will also become IBM's exclusive server processor semiconductor technology provider for 22 nanometer (nm), 14 nm and 10 nm semiconductors for the next 10 years.

The Agreement, once closed, enables IBM to further focus on fundamental semiconductor research and the development of future cloud, mobile, big data analytics, and secure transaction-optimized systems. IBM continues its previously announced $3 billion investment over five years for semiconductor technology research to lead in the next generation of computing. GLOBALFOUNDRIES will have primary access to the research that results from this investment through joint collaboration at the Colleges of Nanoscale Science and Engineering (CNSE), SUNY Polytechnic Institute, in Albany, N.Y.

Lenovo Completes Initial Closing for Acquisition of IBM's x86 Server Business

Lenovo and IBM today announced that they have completed the initial closing for Lenovo's acquisition of IBM's x86 server business under the terms described in their announcement on Monday, September 29, 2014. Lenovo is acquiring System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. IBM retains its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, and PureApplication and PureData appliances.

As part of the agreement, Lenovo and IBM have also established a strategic alliance where Lenovo will serve as an Original Equipment Manufacturer (OEM) to IBM and will resell select products from IBM's industry-leading storage and software portfolio. These include IBM's entry and midrange Storwize storage product family, Linear Tape Open (LTO) products, and elements of IBM's system software portfolio, including Smart Cloud software, General Parallel File System and Platform Computing solutions.

Lenovo Set to Close Acquisition of IBM's x86 Server Business

Lenovo announced today that conditions for Lenovo's acquisition of IBM's x86 server business have been satisfied and the parties anticipate they will begin closing the transaction effective on October 1, 2014. The acquisition will make Lenovo the third-largest player in the $42.1 billion global x86 server market. Lenovo is acquiring System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. IBM will retain its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, PureApplication and PureData appliances.

"With the close of the x86 acquisition, Lenovo will add a world-class business that extends our capabilities in enterprise hardware and services, immediately making us a strong number three in the global server market," said Yang Yuanqing, chairman and CEO of Lenovo. "Now, our priorities are to ensure a smooth integration and deliver a seamless transition for customers. By combining Lenovo's global reach, efficiency and operational excellence with IBM's legendary quality, innovation and service, I am confident that we will have competitive advantages to help us drive profitable growth and build Lenovo into a global enterprise leader."

Seagate Completes Acquisition of LSI's Flash Businesses from Avago

Seagate Technology plc, a world leader in storage solutions, today announced it has completed its previously announced acquisition of the assets of LSI's Accelerated Solutions Division ("ASD") and Flash Components Division ("FCD") from Avago Technologies Limited.

"There is a growing opportunity for mobile and enterprise flash-based storage solutions, which is why we're excited about this strategic technology acquisition," said Steve Luczo, Seagate Chairman and CEO. "Integrating LSI's Enterprise PCIe flash and SSD controller products, and its engineering capabilities into Seagate's leading storage technology portfolio and product development will expand our ability to meet a broader base of customers' needs and drive new revenue opportunities."

Avago Selling LSI's Axxia Networking Business to Intel for $650 Million

Avago Technologies Limited and Intel Corporation today announced the signing of a definitive agreement for Intel to acquire LSI's Axxia Networking Business and related assets for $650 million in cash. The transaction, which has been approved by the boards of directors for both Avago and Intel, is expected to close in the fourth calendar quarter of 2014 upon satisfaction of government approvals and customary closing conditions.

LSI's Axxia Networking Business is being divested from Avago following the recent completion of Avago's acquisition of LSI. The Axxia Networking Business generated revenues of $113 million in calendar 2013 and employs approximately 650 people.

Qualcomm Acquires WiGig Industry Leader Wilocity

Qualcomm Incorporated today announced that it has taken two major steps to enable the industry to deliver multi-gigabit wireless with 60 GHz technology for mobile, computing and networking devices. First, Qualcomm has completed its acquisition of Wilocity, a leader in development of 60 GHz wireless chipsets based on the IEEE 802.11ad standard, also known as WiGig technology. Second, the company is delivering a family of tri-band platforms that combine Qualcomm Atheros, Inc.'s Wi-Fi and WiGig solutions to significantly increase performance and enable cutting-edge wireless applications.

The initial tri-band platform is a reference design based on the Qualcomm Snapdragon 810, which is the world's first mobile platform designed to support WiGig to enable applications such as 4k video streaming, peer-to-peer content sharing, networking, wireless docking, and backing up entire media libraries in seconds. The Qualcomm Snapdragon 810 processor is a product of Qualcomm Technologies, Inc.

HP to Settle Derivative Litigation Arising from Autonomy Acquisition

HP, Cotchett, Pitre & McCarthy, LLP, and Robbins Geller Rudman & Dowd LLP today announced they have reached an agreement to settle shareholder derivative litigation arising from the acquisition of Autonomy. The settlement is subject to court approval. Following HP's announcement in November 2012 that Autonomy had engaged in accounting improprieties, misrepresentations and disclosure failures before HP acquired the company, lawsuits were filed against current and past HP directors, officers and advisors.

HP's board appointed an independent committee of directors to evaluate the claims asserted in the derivative suits and related demand letters, including claims that HP could assert against Michael Lynch, Autonomy's former chief executive officer; and Shushovan Hussain, Autonomy's former chief financial officer. Based on the committee's recommendations, the HP board concluded HP had claims against Lynch and Hussain, among others. The board also cleared HP's present and former directors and officers (other than Lynch) of any wrongdoing.

Avago Technologies Limited to Acquire PLX Technology

Avago Technologies Limited and PLX Technology, Inc. today announced that they have entered into a definitive agreement under which Avago will acquire PLX, a leader in PCI Express silicon and software connectivity solutions, in an all-cash transaction valued at approximately $309 million, or $293 million net of cash and debt acquired.

Under the terms of the agreement, which was approved by the Boards of Directors of both companies, a subsidiary of Avago will commence a tender offer for all of the outstanding shares of PLX common stock for $6.50 per share in cash. Avago expects to fund the transaction with cash available on its balance sheet.

SanDisk Signs Definitive Agreement to Acquire Fusion-io

SanDisk Corporation (NASDAQ: SNDK), a global leader in flash storage solutions, today announced a definitive agreement to acquire Fusion-io (NYSE: FIO), a leading developer of flash-based PCIe hardware and software solutions that enhance application performance in enterprise and hyperscale datacenters. The acquisition will be an all-cash transaction valued at approximately $1.1 billion, net of cash assumed.

"Fusion-io will accelerate our efforts to enable the flash-transformed data center, helping companies better manage increasingly heavy data workloads at a lower total cost of ownership," said Sanjay Mehrotra, SanDisk president and CEO. "Customers will benefit from the addition of Fusion-io's leading PCIe solutions to SanDisk's vertically integrated business model. We look forward to working with the world-class engineering and go-to-market teams from Fusion-io to provide high-value solutions to customers around the world."

Seagate to Acquire LSI Flash Businesses From Avago

Seagate Technology plc, a world leader in storage solutions, and Avago Technologies Limited, a leading semiconductor device supplier to the enterprise storage, wired, wireless and industrial end markets, today announced that they have entered into a definitive asset purchase agreement under which Seagate will acquire the assets of LSI's Accelerated Solutions Division ("ASD") and Flash Components Division ("FCD") from Avago for $450 million in cash.

The acquisition strengthens Seagate's strategy to deliver a full suite of storage solutions, providing Seagate with established Enterprise PCIe flash and SSD controller capabilities to deliver solutions for the growing flash storage market. LSI's ASD business, which is the second largest player in the PCIe flash space, offers a highly differentiated enterprise-grade PCIe flash solution focused on the high-growth cloud and hyperscale markets. LSI's FCD business, led by its SandForce SF2000 and SF3700 controller products, is driving a multi-product roadmap to address volume markets.

Apple to Acquire Beats Music & Beats Electronics

Apple today announced it has agreed to acquire the critically acclaimed subscription streaming music service Beats Music, and Beats Electronics, which makes the popular Beats headphones, speakers and audio software. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple is acquiring the two companies for a total of $3 billion, consisting of a purchase price of approximately $2.6 billion and approximately $400 million that will vest over time.

"Music is such an important part of all of our lives and holds a special place within our hearts at Apple," said Tim Cook, Apple's CEO. "That's why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world." "I've always known in my heart that Beats belonged with Apple," said Jimmy Iovine. "The idea when we started the company was inspired by Apple's unmatched ability to marry culture and technology. Apple's deep commitment to music fans, artists, songwriters and the music industry is something special."

Cirrus Logic Agrees to Acquire Wolfson Microelectronics

Cirrus Logic, Inc. (NASDAQ : CRUS) and Wolfson Microelectronics plc (LSE : WLF or WLF.L) today announced the terms of a recommended transaction under which Cirrus Logic would acquire Wolfson at a price of £2.35 per share in cash, implying an enterprise value of £278 million, or approximately $467 million. The transaction, if approved, is expected to strengthen Cirrus Logic's ability to expand its customer base with highly differentiated, end-to-end audio solutions for portable audio applications. The transaction will be financed by a combination of existing cash on Cirrus Logic's balance sheet and $225 million in debt funding.

"Wolfson has a rich history of audio innovation, a broad catalog of audio products and a first class customer list," said Jason Rhode, Cirrus Logic President and Chief Executive Officer. "This acquisition strengthens Cirrus Logic's core business as a leader in audio signal processing components, enhances our ability to differentiate our products with software, and adds new product categories such as MEMS microphones to our portfolio."

IBM Creates Big Data & Business Analytics Center of Competence in Greece

IBM has announced that it will establish a new Big Data and Business Analytics Center of Competence in Athens, Greece advancing its ability to deliver Big Data and Business Analytics technical and consulting capabilities in the region, drawing on an emerging generation of highly skilled local expertise.
The new center will help companies to better leverage analytics and cognitive computing capabilities, improving business operations and enhancing their competitiveness in the global marketplace.

The new Center will lead Big Data and Business Analytics client engagements in the region, working closely with IBM's global network of Business Analytics Centers in Berlin, Beijing, Dallas, London, New York, Tokyo, Washington and Zurich.

Seagate Completes Acquisition of Xyratex

Seagate Technology plc, a world leader in storage solutions, today announced it has completed its previously announced acquisition of Xyratex Ltd, a leading provider of data storage technology.

"Exabyte growth is accelerating, and we are building higher capacity drives to address this growth," said Dave Mosley, President of Operations and Technology at Seagate. "The time required to properly test these higher capacity drives is increasing dramatically, making it strategically important to have uninterrupted access to world-class test equipment and engineering resources. The addition of Xyratex helps us fill this important need and considerably streamlines Seagate's supply and manufacturing chains for our core HDD business."

Lenovo Posts Third Quarter 2013-14 Results

Lenovo Group today announced record results for its third fiscal quarter ended December 31, 2013, driven by strong global execution, an innovative product portfolio and an increasing mix of PC Plus revenues. Quarterly revenue was US$10.8 billion, a 15 percent increase year-over-year, passing the US$10 billion milestone for the first time ever. Third quarter profit grew even faster with pre-tax income increasing 30 percent year-over-year to US$321 million, while earnings also grew 30 percent year-over-year to US$265 million. Lenovo shipped a record 32.6 million devices in the quarter or nearly 5 devices every second. Lenovo's third quarter mix of sales from its Mobile Internet and Digital Home division which develops PC Plus products such as smartphones, tablets and smart TVs, was 16 percent of total revenues, up from 11 percent one year ago and seven percent two years ago, with steadily improving profitability.

For the third straight quarter, Lenovo was the world's largest PC vendor, with its highest-ever quarterly market share of 18.5 percent, up 2.4 points year-over-year. Record high share in EMEA, Asia Pacific and China with number one positions in five of the seventh largest PC markets globally - supported this strong performance. Lenovo's PC shipments for the third fiscal quarter were 15.3 million units, again making it the fastest growing of the top five PC vendors. This was also the 19th quarter in a row that Lenovo outperformed the industry as a whole, growing at a 14 point premium to the market.

Lenovo Plans to Acquire IBM's x86 Server Business

Lenovo and IBM have entered into a definitive agreement in which Lenovo plans to acquire IBM's x86 server business. This includes System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. The purchase price is approximately US$2.3 billion, approximately two billion of which will be paid in cash and the balance in Lenovo stock.

IBM will retain its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, and PureApplication and PureData appliances. The agreement builds upon a longstanding collaboration that began in 2005 when Lenovo acquired IBM's PC business, which included the ThinkPad line of PCs. In the period since the companies have continued to collaborate in many areas. IBM will continue to develop and evolve its Windows and Linux software portfolio for the x86 platform. IBM is a leading developer of software products for x86 servers with thousands of products and tens of thousands of software developer and services professionals who build software for x86 systems.

LSI Reports Fourth Quarter and Full Year 2013 Results

LSI Corporation (NASDAQ: LSI) today reported results for its fourth quarter ended December 31, 2013. On December 15, 2013, LSI entered into a definitive agreement with Avago Technologies Limited (NASDAQ: AVGO) under which Avago has agreed to acquire LSI for $11.15 per share in an all-cash transaction valued at approximately $6.6 billion. In anticipation of this transaction, which is expected to close in the first half of 2014, LSI will not issue financial guidance for the upcoming quarter or conduct a fourth quarter results conference call. LSI has also discontinued its quarterly dividend and stock repurchases.

"We ended the year on a strong note, with solid quarterly results and the announcement of Avago's proposed acquisition of LSI," said Abhi Talwalkar, LSI's president and CEO. "Our employees did a great job in the quarter and in the year, bringing several exciting new products to market and expanding our capabilities to better serve our growing customer base in flash storage, datacenters and mobile networks."
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