SK Hynix, Inc.OTC Markets
May 29, 2014, 5:01 PM
- Korea's SK Hybix (HXSCL) will be buying Violin Memory's (VMEM) PCIe server flash module product line for $23M in cash and the assumption of $500K in liabilities.
- Violin had already stated it plans to exit the market. News of the deal comes shortly after Seagate announced it's buying Avago's PCIe/flash controller unit for $450M.
- Violin hasn't yet moved AH following the news, and the posting of FQ1 results that included a sizable revenue miss. (PR)
- The company hasn't provided revenue guidance. Its FY15 (ends Jan. '15) gross margin and opex guidance is being reiterated.