Capital Market Digest: SanDisk Corporation (NASDAQ:SNDK), Iron Mountain Incorporated (NYSE:IRM), CenturyLink, Inc. (NYSE:CTL)

Pamela Garcia - May 21, 2014

Boston, MA 05/21/2014 (wallstreetpr) – It is emerging that SanDisk Corporation (NASDAQ:SNDK) will not cover the initial investment of about $391 million to convert Toshiba’s joint venture facility in Japan into a new chip fab. Instead, SanDisk, the renowned manufacturer of NAND Flash memory that recently unveiled the world’s largest microSD memory card, will participate in investing towards getting operations up and running at the new facility in central Japan.

The companies have not disclosed the total investment amount in the 3D chip facility. However, speculations are widespread that the deal may be worth a whopping $4.8 billion. The companies expect to have the facility up and running by 2016, and they anticipate production of chips that have almost 16 times the storage capacity of existing flash memory chips.

Earlier this year SanDisk Corporation (NASDAQ:SNDK) launched a 128GB microSD memory card that it expects to appeal to users of Smartphone and tablets that seek big storage solution in the face of increasing application of such mobile devices. SanDisk launched the world’s highest capacity microSD card in India recently.

The storage and information management provider Iron Mountain Incorporated (NYSE:IRM) disclosed widespread acquisitions it made between January and April this year. The company made a total of 10 acquisitions in the U.S. and internationally as it seeks to expand into emerging markets while adding more customers domestically. The company highlight Poland and Turkey among the key global markets that it will continue to rank high on its expansion agenda. It spent about $65 million to make the 10 acquisitions.

The highlight of the acquisitions included OSG Poland, a leading provider of document and data management services and RM Turkey, a records storage provider in Turkey. In addition to making acquisitions, CEO William Meaney said the company also continues to boost investment in its joint venture, in promising markets.

If the latest developments are anything to go by, CenturyLink, Inc. (NYSE:CTL) looks ready to make good its threat to give rivals Google Inc (NASDAQ:GOOG), Amazon.com Inc (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT) a run for their money in the cloud business. The company just announced the opening of a new data centre in Minnesota. The company will offer cloud, managed hosting and other networking services from the center in the face of growing demand for cloud computing solutions.

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Pamela Garcia

Pamela Garcia is a keen follower of U.S. stock market

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