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January 8, 2013
09:58 EDTFIOFusion-io tumbles after William Blair cuts rating
Fusion-io (FIO), which develops data solutions, is sinking after William Blair analyst Jason Ader downgraded the stock to Market Perform from Outperform in a note to investors earlier today. The company is likely to report weaker than expected results in the second half of this year, as its bookings with corporate customers appear to be slower than expected, the analyst wrote. Demand for Fusion-io's server attached PCIe card, which are used for data storage, is weaker than expected, Ader explained. The analyst now expects the company's corporate sales to increase 53% in fiscal 2013, down from his previous estimate of a 66% jump. Macro economic pressures, a slower than expected ramp of Fusion's new products, and the emergence of new competing products have contributed to the slowdown in Fusion's sales, the analyst believes. In early trading, Fusion slumped $1.60, or 7.55%, to $19.60.
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July 23, 2014
09:02 EDTFIOSanDisk completes acquisition of Fusion-io
SanDisk Corporation (SNDK), a global leader in flash storage solutions, today announced it has completed the previously announced acquisition of Fusion-io (FIO), a developer of flash-based PCIe hardware and software solutions that enhance application performance in enterprise and hyperscale datacenters. Under the terms of the agreement, SanDisk completed the acquisition for $11.25 per share for the outstanding shares of Fusion-io, and assumed unvested, in-the-money equity awards, for a total aggregate value of approximately $1.1B, net of cash assumed. SanDisk’s third quarter financial results will include the results of Fusion-io from July 23, 2014 through September 28, 2014. SanDisk expects to exclusively use non-captive memory for the Fusion-io business for at least the next several quarters.
July 17, 2014
12:15 EDTFIOSanDisk plummets after Q3 revenue outlook disappoints
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