Samsung seeks to buy SanDisk

— 1:56 PM on September 5, 2008

Some consolidation may soon be underway in the flash memory market. According to report by the Associated Press, which itself quotes a South Korean business paper, Samsung is "pursuing an acquisition" of its American rival SanDisk.

Both parties have fallen short of making any grand announcements yet. A Samsung spokesman told the AP, "We are considering various opportunities regarding SanDisk but nothing has been decided." Meanwhile, SanDisk has released a statement saying it "periodically has conversations with multiple parties, including Samsung, regarding a variety of potential business opportunities." SanDisk goes on to say, "We evaluate all of these opportunities, but maintain a policy of not commenting on market rumors or speculation."

In short, either the buyout isn't a done deal, or the two firms aren't ready to make it public quite yet. Still, the speculation has already caused SanDisk's shares to climb by around 28%, and it's not hard to figure out why Samsung would want the transaction to go forward. SanDisk is reportedly the biggest supplier of flash storage cards in the world, and it already taps Samsung for NAND flash supply.

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