M-Systems Ltd. (now SanDisk Kfar Saba)

www.m-sys.com

High-Tech Company

Acquired by SanDisk Corp.

TECH VERTICALS

Memory & Storage

General Data

Sector	Semiconductors
Company Stage:	Revenue Growth
Established	1989
Number of Employees	822

DESCRIPTION

M-Systems is a developer and manufacturer of innovative data storage products, known as flash disks. The Company’s flash disks provide the functionality of a mechanical hard drive on a solid-state silicon chip. M-System’s products are based on its patented TrueFFS technology and are primarily used in embedded systems, Internet appliances, video and audio servers, telecommunications systems, military applications, as well as PC and laptops.

TECHNOLOGY

M-Systems is committed to developing advanced and cost-effective data storage solutions using flash memory. M-Systems is recognized as the flash system expert by all major flash manufacturers, including Toshiba, AMD and Saifun. This recognition has been sealed by M-Systems' strategic alliances with these very same manufacturers. Based on its tradition of innovation and partnerships, M-Systems continues to set standards in flash technology:

M-Systems was the first company in the world to introduce a Flash Disk back in 1990.
M-Systems' TrueFFS is the de-facto industry standard and leading technology for managing flash. TrueFFS is endorsed by all leading operating systems.
M-Systems is the inventor and creator of the keychain storage category with its DiskOnKey.

mDrive (formerly DiskOnKey®) U3 USB smart drives for personal, portable computing
mDOC embedded flash drives for mobile handsets and consumer electronics devices
mSIM MegaSIM® series high-density SIM cards and mSIM M.MAR® series SIM cards and highly secure cards (available both from msystems and its subsidiary Microelectronica)
mCard, high-quality memory cards for mobile handsets and digital cameras
mTrust (formerly Xkey®) end-to-end enterprise access, control and management solution for USB flash drives and other removable media
mSSD (formerly FFD™) rugged solid state disks for mission-critical applications
mModule (formerly DiskOnChip® modular family) modular flash storage for embedded systems
mSafe (formerly SuperMAP® family) secure hardware and software crypto cores

ESTIMATED ANNUAL SALES

Year	Amount
2006	500
2005	490
2004	480
2003	470
2002	460
2001	450
2000	440
1999	430
1998	420
1997	410

	TARGET MARKETS
	Private and Business Consumers.

	BUSINESS MODEL
	B2B

AFFILIATION

Account ID	Affiliation Type	Name	Parent Name	Status
878A4908-207A-E111-AC59-00155D32A403		M-Systems Ltd. (now SanDisk Kfar Saba)		Acquired/Merged
67CB77DE-1F7A-E111-AC59-00155D32A403	Subsidiary	SmartCaps Ltd.	M-Systems Ltd. (now SanDisk Kfar Saba)	Ceased

CONTACT INFO

Expand / Collapse All

Main Address: Kfar Saba, Israel

Address	7 Atir Yeda St., Central Park 2000
City	Kfar Saba
Country	Israel
Zip	44425

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

Branch Address: Newark, United States

Address	8371 Central Ave., Suite A
City	Newark
State/Province	CA
Country	United States
Zip	94560

Contact Person	abC Defghij
Contact E-Mail	abC Defghij
Company E-mail	abC Defghij
Telephone	abC Defghij
Fax	abC Defghij

	MANAGEMENT

Key Executive

Name	Title	Previous Position
Dr. Amir Ban	Co-Founder	Eyessessment (VP, Biz Dev & CTO)
Mr. Amir Friedman	Co-Founder	M-Systems (Co-Founder)
Mr. Aryeh Mergi	Co-Founder	Startup Factory (Member, Internet & Software, Healthcare)
Mr. Dov Moran	Co-Founder

	BOARD

Board

Member	Title	Affiliation
abC Defghij	N\A	Chairman, Proseed Venture Capital Fund Ltd.

Mergers & Acquisitions

Round

Date

Stage

Amount

Valuation

Acquired

Jul. 31, 2006

abCDe

Public Offerings

Deal Date	Type of Offering	Exchange	Amount Raise	Valuation	Remarks
Mar. 20, 2005	Fifth Public Offering	NASDAQ GS	abCDe	abCDe	Convertible Notes
Feb. 20, 2004	Fourth Public Offering	NASDAQ GS	abCDe	abCDe
Mar. 07, 2000	Third Public Offering	NASDAQ GS	abCDe	abCDe
Aug. 08, 1996	Second Public Offering	NASDAQ GS	abCDe	abCDe
Mar. 04, 1993	IPO	NASDAQ GS	abCDe	abCDe

	FINANCIAL ROUNDS

Total Capital Raised
abCDe

Financial Rounds

Numbers of Investors

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Round

Date

Stage

Amount

Valuation

PIPE

Jul. 29, 2003

Revenue Growth

abCDe

PIPE

Jul. 01, 1999

Revenue Growth

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Venture Capital Fund	abCDe
abC Defghij	Venture Capital Fund	abCDe	M-Systems was acquired by SanDisk in 2006.
abC Defghij	Venture Capital Fund	abCDe

PIPE

Oct. 01, 1993

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Venture Capital Fund	abCDe
abC Defghij	Venture Capital Fund	abCDe	M-Systems was acquired by SanDisk in 2006.

First Round

Jun. 01, 1991

Initial Revenues

abCDe

	R&D Grants

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Round

Date

Stage

Amount

Remarks

R&D Grant

Jun. 01, 2006

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-National Fund	abCDe	Co-op with Spansion (CA)

R&D Grant

Apr. 20, 2006

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-National Fund	abCDe	Co-op with Amphenol East Asia Ltd.

R&D Grant

Oct. 01, 2005

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-Lateral R&D Program	abCDe	R&D grant
abC Defghij	Bi-Lateral R&D Program	abCDe	Granted by the EU Sixth Framework Program for R&D

R&D Grant

Sep. 01, 2004

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-Lateral R&D Program	abCDe	DRM Solution - a EUR 3.1m Multi lateral CELTIC project

R&D Grant

Jul. 23, 2001

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-National Fund	abCDe	Co-op with United Test and Assembly Center Ltd.

R&D Grant

Oct. 10, 1996

abCDe

* New investor

Investor	Type	Amount	Remarks
abC Defghij	Bi-National Fund	abCDe

	Acquisitions made by M-Systems

Acquired Company	Sector	Date	Amount	Remarks
abC Defghij	Networ...	Jul. 01, 2004	abCDe
abC Defghij	Consum...	Sep. 01, 2000	abCDe

	PORTFOLIO COMPANIES

Exits (1)

Company Name		Exit Type	Date Announced	Amount	Remarks
abC Defghij		Holdings Sold	01/12/2005	abCDe

Historic Portfolio (1)

Company Name

Sector

Round/Deal Type

Date Announced

Investor Amount

Total Deal Amount

Remarks

SmartCaps

Ceased to Operate

Semicon.

Seed

01/04/2003

$0.57m

$1.12m

Last Updated:	abCDe
IVC Number:	abCDe