SanDisk Buys VC-backed Pliant Technology

SanDisk Corp. will pay about $327 million in cash to acquire venture-backed Pliant Technology Inc. Pliant, based in Milpitas, Calif., sells ultra-high performance enterprise solid state drives. The acquisition is set to close by the end of SanDisk’s second quarter. Pliant had raised money from investors including Arcturus Capital, Divergent Ventures Inc., Lightspeed Venture Partners and Menlo Ventures.

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