SanDisk to buy Msystems for $1.55 billion

The Wall Street Journal reports that California-based SanDisk has agreed to buy Israel-based Msystems for stock currently valued at $1.55 billion.

Sandisk is the largest maker of removable flash storage cartridges, while Msystems--formerly M-Systems Flash Disk Pioneers--specializes in nonremovable flash devices.

The Wall Street Journal says (subscription required) that this is the second major storage merger in as many months: In June, Micron Technology purchased Lexar Media.