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January 14, 2013
10:04 EDTFIOFusion-io advances after JPMorgan ups rating to Overweight
Fusion-io (FIO), which develops products that accelerate databases, is climbing after JPMorgan analyst Mark Moskowitz upgraded the stock to Overweight from Neutral in a note to investors earlier today. Fusion-io's competition isn't ramping up as quickly as Moskowitz had forecast, the analyst explained. Although some big players are trying to enter the data acceleration market, Fusion-io continues to be the leader in the sector, according to the analyst. Furthermore, the company could lower its prices by selling more of its products through its own sales force, and reducing its reliance on third parties to sell its systems, the analyst believes. This change could cause the company's revenue growth to accelerate this year, wrote Moskowitz, who increased his price target on the stock to $30 from $28.50. In early trading, Fusion-io gained 55c, or 2.76%, to $20.48.
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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.

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