(Reuters) -Memory storage devices maker Western Digital Corp (NASDAQ 🙂 announced Tuesday that it’s reviewing strategic alternatives including splitting up its HDD, flash-memory and HDD business.

It comes one month after Elliott Management, an activist investor in Silicon Valley, disclosed that it had a nearly $1 billion stake in the company. This led to the firm’s decision to split its hard-drive and flash business. Elliott holds approximately 6% of the California-based firm.

New York-based Elliott stated it also offered $1 billion worth of equity capital in Western Digital Flash’s Flash venture at an enterprise valuation of between $17 billion to $22 billion.

David Goeckeler, Western Digital’s Chief Executive Officer, stated in a statement that “Through the process, we are actively engaged in a wide range of financial and strategic alternatives that will further optimize Western Digital’s value, including Elliott’s offer to invest incremental capital in our Flash Business.”

Elliott will provide capital for Western Digital to “realize its full potential”, Elliott’s Managing Partner Jesse Cohn said and Jason Genrich, Senior Portfolio Manager Jason Genrich stated.