Tech content trusted by users in North America and around the world
6,725 Reviews & Articles | 46,135 News Posts
TRENDING NOW: AMD's dual Fiji chip spotted as Radeon R9 Gemini, is this the Fury X2?

Micron Announces Agreement to Acquire Numonyx

Posted: Feb 10, 2010 2:04 pm | Business, Financial & Legal Press Releases

Micron Announces Agreement to Acquire Numonyx


Micron Technology, Inc., and Numonyx Holdings B.V. announced today that the companies have signed a definitive agreement under which Micron has agreed to acquire privately held Numonyx in an all-stock transaction valuing Numonyx at approximately $1.27 billion USD.


Under the terms of the agreement, Micron will issue 140 million Micron common shares to Numonyx shareholders, Intel Corporation, STMicroelectronics, N.V. and Francisco Partners. Up to 10 million additional Micron common shares will be issued ratably to Numonyx shareholders to the extent the volume weighted average price of Micron shares for the 20 trading days, ending two days prior to the close of the transaction, ranges between $7.00 and $9.00 per share.


The transaction further strengthens Micron's position as one of the world's leading memory companies, with a broad portfolio of DRAM, NAND and NOR memory products and strong expertise in developing and supporting memory system solutions. Micron would also gain increased manufacturing scale globally and access to Numonyx's customer base, providing significant opportunities to increase multi-chip offerings in the embedded and mobile markets.


"Acquiring Numonyx brings together two memory leaders and positions Micron to offer the most comprehensive, cost-competitive solutions in the industry to a broad range of customers and end-markets," said Steve Appleton, Chairman and CEO of Micron.


"We believe the opportunity for Numonyx to join with Micron will deliver a clear advantage for our customers and our employees," said Brian Harrison, President and CEO of Numonyx. "This announcement is a strong testimony to the value of Numonyx technologies, products and people. The result will be a strong company that can best serve our target market segments and customers by delivering enhanced memory solutions, strength and scale. It is good for Numonyx and good for Micron."


Micron currently estimates that the transaction would be accretive to the company on both free-cash flow and non-GAAP earnings beginning fiscal year 2011. In addition, it is anticipated that the Numonyx balance sheet will be debt-free following closing.


The transaction is subject to regulatory review and other customary closing conditions and is currently anticipated to close within three to six months.


Related Tags

Got an opinion? Post a comment below!
Subscribe to our Newsletter

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases | 522: Connection timed out

Error 522 Ray ID: 230ecce7b6e204e3 • 2015-10-06 05:00:18 UTC

Connection timed out








What happened?

The initial connection between CloudFlare's network and the origin web server timed out. As a result, the web page can not be displayed.

What can I do?

If you're a visitor of this website:

Please try again in a few minutes.

If you're the owner of this website:

Contact your hosting provider letting them know your web server is not completing requests. An Error 522 means that the request was able to connect to your web server, but that the request didn't finish. The most likely cause is that something on your server is hogging resources. Additional troubleshooting information here.