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  • fastmoneypete fastmoneypete May 13, 2012 11:11 PM Flag

    May 13 - Wozniak confirms FIO as buy-out target

    "Menlo Park, California-based Facebook makes up 36 percent of Fusion-io’s revenue, according to data compiled by Bloomberg, followed by 24 percent coming from Apple and 14 percent from Hewlett-Packard Co. (HPQ)

    Describing himself as a “laboratory scientist” more than a businessman, Wozniak said he had mixed feelings about a potential takeover of Fusion-io amid speculation the company may have become a target.

    Rajesh Ghai, a San Francisco-based analyst for ThinkEquity, describes the company as a “strong acquisition candidate” and estimates its shares could fetch as much as $40 in a takeover.

    Fusion-io shares closed May 11 at $21.41 and have risen 13 percent since the company first sold shares to the public in June. The stock has declined 47 percent from its Nov. 17 peak of $40.34.

    “Once you have an IPO like Fusion-io did, oh my gosh you’ve now got to look at targets that you can add to your base,” he said. “You’ve also got to worry about who might acquire you. And is that good or bad? It’s sort of a sell-out in my mind.”

    After the IPO, Facebook shares will trade on the Nasdaq Stock Market under the symbol FB."

 
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