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.
Latest News Posts
- Oppo launches F3 Plus with dual front cameras
- Manli's upcoming GTX 1080 Ti features blower fan design
- Hey MSI, where's your GeForce GTX 1080 Ti Lightning?
- EVGA unveils GTX 1080 Ti SC, SC2, and FTW3 variants
- Overwatch map editor, highlight savings are coming soon
- Corsair ONE Pro SFF Gaming PC Review
- AnyRactive GoTouch Portable Whiteboard Review
- Download "ScanPST.exe tool
- Gamdias Hermes P1 RGB Mechanical Gaming Keyboard Review
- H170-PLUS D3 and i7 7700K, both new computer says nothing.
- COLORFUL wins innovation award from Intel
- Composer Olivier Deriviere pioneers real-time generated interactive music for GET EVEN
- BIOSTAR launches compact high-speed storage solution with M200 M.2 SSD
- EpicGear launches MORPHA X RGB fully modular gaming mouse
- ASUS announces USB-AC53 Nano Wi-Fi adapter