Feeds

Silver Lake and SMART Modular: The Privening

Hefty Flash'n'RAM firm to vanish off stock market

3 Big data security analytics techniques

Publicly-owned RAM and SSD supplier SMART Modular is turning to private ownership via a $645m deal with Silver Lake.

SMART was identified as the fifth largest supplier of SSD products by Gartner in 2009. It builds the XceedIOPS SSD using MLC or enterprise-grade MLC NAND coupled with Sandforce controllers. The product has a claimed 30,000 program/erase cycle with eMLC NAND, about as high as more expensive and faster single level cell flash. SMART SSDs are used in Xiotech's Hybrid ISE storage blade, and IBM also takes the product.

SMART got into the SSD business by buying Adtron in February, 2008, for $20m. It is now facing increased competition for OEM SSD sales as much large companies and partnerships like Intel/Micron, Western Digital/Hitachi GST, and Samsung/Seagate power into the market. SMART is also missing out on the PCIe-connected flash market dominated by Fusion-io.

Silver Lake Partners and Silver Lake Sumeru are paying $9.25/share. SMART's CEO Ian MacKenzie, said: "As a private company, we believe we will have greater flexibility to deliver to our customers the benefits of our long term strategies, while managing the volatility of the DRAM cycles that have and will continue to be part of our business model. As a partner with strong technology expertise, Silver Lake will be committed to supporting our ability to grow our business around the world and provide long-term opportunities for our employees, customers and broader industry."

Ken Hao, a Managing Director of Silver Lake Partners, said as much: "We are very pleased to have an opportunity to work with SMART's management team to develop this business going forward in existing and new directions."

Those directions might include building PCIe-connected flash modules and even, El Reg hazards a guess, a business combination with other companies elsewhere in the SSD supply chain. It has to involve something that, were it done by a public company, would involve a substantial loss of shareholder value in the short to medium term. Why else go private?

Other bidders for the company may now step forward and a Special Committee on SMART's board will evaluate any such proposals up to 9 June. The completion of the Silver Lake transaction is subject to customary closing conditions, and is expected to close in the third 2011 quarter. ®

SANS - Survey on application security programs

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Kingston DataTraveler MicroDuo: Turn your phone into a 72GB beast
USB-usiness in the front, micro-USB party in the back
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
BOFH: Oh DO tell us what you think. *CLICK*
$%%&amp Oh dear, we've been cut *CLICK* Well hello *CLICK* You're breaking up...
Bored with trading oil and gold? Why not flog some CLOUD servers?
Chicago Mercantile Exchange plans cloud spot exchange
Just what could be inside Dropbox's new 'Home For Life'?
Biz apps, messaging, photos, email, more storage – sorry, did you think there would be cake?
IT bods: How long does it take YOU to train up on new tech?
I'll leave my arrays to do the hard work, if you don't mind
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.