Hey there TTL followers, we’ve been a bit busy these past couple of days and we weren’t able to give you as much tech updates as we can; but we’re back now so we think it’s just right that we give you some info on what happened during the past week.
WD Acquires Sandisk for $19 Billion
California-based data storage company Western Digital is acquiring another brand in the storage business, Sandisk, for a cool $19 billion. According to a press release published by Western Digital on its website, the deal will be worth $86.50 per share (which totals at $19 billion) and will be paid in a combination of both cash and stock.
The deal is supposed to be beneficial for both parties with Sandisk benefititing from WD’s successful and extensive track record in mergers and acquisition as well as operational excellence that help drive innovation within the company. On the other hand, Sandisk will greatly help WD through its expertise in non-volatile memory (NVM).
Furthermore, the press release states that Sandisk’s existing partnership with Toshiba (a WD competitor) will not be affected by this acquisition. As for management, WD’s current CEO Steve Milligan will continue to hold the helm for the combined company while Sandisk’s Sanjay Mehrotra is expected to join WD’s board of directors.
According to Western Digital, the deal is expected to be finished by third quarter of 2016, when both parties have gone through all the provisions of the agreement.
YouTube Red Offers Ad-Free Streaming for $9.99
YouTube is revamping its ad-free streaming service with its all new YouTube Red, which will replace the company’s existing service – Music Key that was launched November last year. The service will launch in the US tomorrow and will cost $9.99 ($12.99 for iOS users – the added cost is due to Apple’s in-app purchase tax).
The service will become an extra tier on users’ existing YouTube and Google account and as such will not be having its own dedicated app.
As for content producers on the platform, YouTube says it will split the subscription revenue with the rights holders of content people consumer through the platform, given that these producers agree to the terms and conditions of the service. Otherwise, those who do not accept the T&Cs will have their videos hidden on the site.
The streaming giant has also announced a new music app that promises to deliver music-related video streaming services to users. It will be part of YouTube Red and as such will be free from ads.
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