SanDisk Corporation (NASDAQ: SNDK), a global leader in flash memory storage solutions, today announced that its strategic investment arm, SanDisk Ventures, has invested in Tegile Systems. Tegile is bringing a new generation of affordable hybrid storage arrays incorporating flash technology to enterprise customers. The Tegile solution provides better price-performance than traditional all-hard-disk-drive (HDD) storage arrays and offers a compelling way to address evolving enterprise requirements in a cost-effective manner. Specific financial terms of the SanDisk investment were not disclosed.
Through its strategic partnership with SanDisk, Tegile will be able to leverage SanDisk’s expertise and capabilities as one of the world’s leading innovators of flash memory technology.
“With our unique flash-based hardware and software solutions and vertically integrated business model, SanDisk is helping enable a new generation of companies transform the enterprise,” said Sumit Sadana, executive vice president and chief strategy officer at SanDisk. “We believe that Tegile is well positioned to bring the significant benefits of flash technology to enterprise customers through their innovative hybrid system solution.”
Tegile’s solutions balance performance and cost to provide a unified storage offering that combines both traditional HDDs with flash storage. Tegile currently has hundreds of customers in segments ranging from the financial services sector to the manufacturing, government, legal, healthcare and transportation industries.“We welcome flash industry leader SanDisk as a strategic partner and investor in Tegile,” said Rohit Kshetrapal, chief executive officer of Tegile. “Together with our other Series C partners, our relationship with SanDisk will enable us to unlock the potential of flash technology in the enterprise, and leverage the significant growth opportunities ahead of us.” About SanDisk Ventures SanDisk launched SanDisk Ventures in 2012 with the goal of investing $75 million over a three-year period in select companies with promising technologies that extend the value proposition of flash memory in targeted applications. By collaborating with SanDisk, companies like Tegile gain access to SanDisk’s broad product portfolio and world-class technical expertise, as well as expanded customer and channel opportunities.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts