SanDisk, the developer of flash storage products, said on Monday it will acquire Fusion-io, developer of an application acceleration platform with offices in San Jose, in an all-cash deal valued at $1.1 billion. Under the agreement, SanDisk will launch a cash tender offer, paying $11.25 a share. The deal is expected to close during the third quarter. Sanjay Mehrotra, SanDisk’s president and CEO, said the acquisition will “accelerate our efforts to enable the flash-transformed data center, helping companies better manage increasingly heavy data workloads at a lower total cost of ownership. Read more.