SANTA CLARA, Calif. and BOISE, Idaho, Feb. 28, 2012 - Intel Corporation and Micron Technology, Inc., today announced that the companies have entered into agreements to expand their NAND Flash memory joint venture relationship.
The agreements, which are designed to improve the flexibility and efficiency of the joint venture, include a NAND Flash supply agreement for Micron to supply NAND products to Intel and agreements for certain joint venture assets to be sold to Micron. Under terms of the agreement, Intel is selling its stake in two wafer factories in exchange for approximately $600 million-the approximate book value of Intel's share. Additionally, Intel will be receiving approximately half of the consideration in cash and the remaining amount will be deposited with Micron, which may be refunded or applied to Intel's future purchases under the NAND Flash supply agreement. The agreements also extend the companies' successful NAND Flash joint development program and expand it to include emerging memory technologies.
"Micron's joint venture NAND development efforts with Intel are a model of innovation, productivity and effectiveness," said Micron Chief Executive Officer Mark Durcan. "With IM Flash and its associated programs, our companies have become leaders in the NAND Flash arena. These new agreements build on that success."
"The Intel-Micron partnership has created industry-leading NAND Flash memory technology and developed a robust global manufacturing network. The new NAND Flash supply agreement with Micron gives Intel better flexibility to meet growing demand for SSDs and other products," said Robert Crooke, Corporate Vice President and General Manager of the Non-Volatile Memory Solutions Group, Intel.
As part of these agreements, Micron will increase its share of the overall NAND Flash output and optimize its global manufacturing network by purchasing the assets of IM Flash Singapore (IMFS) and the IM Flash Technologies (IMFT) assets in Manassas, Va.
Micron has also agreed to supply Intel with NAND Flash memory from its facilities. The IMFT joint venture NAND manufacturing facility in Lehi, Utah, will continue to operate with minimal changes to its existing operations. The facility is currently in production on the companies' industry-leading 20nm NAND Flash memory technology. The transaction is expected to close during the first half of this year, subject to certain conditions.
Latest News Posts
- System Shock reboot gets 9 minutes of new gameplay footage
- Modders morph Skyrim into amazing standalone RPG Enderal
- China is the first with a 3D printed house, was built-in 45 days
- Battlefield 1 has Async Compute and DX12, expect 'DX12 fireworks'
- Volkswagen fraud settlement biggest in US history, hits $15 billion
- Deleted driver software
- MSI GeForce GTX 1070 Gaming X 8G - Silent Gaming Major OC Headroom
- New Gaming Build - Looking fro feedback
- Fractal Design CORE 500 Mini-ITX Small Form Factor Chassis Review
- H110M-ITX loses USB and PS1 when WIN 7 loads
- ADATA launches the Premier SP550 M.2 2280 SATA 6Gb/s SSD
- Mangstor's NX-Series storage arrays accelerate HPC throughput with new burst buffer capabilities
- Swiftech unveils new Komodo Waterblocks for NVIDIA GeForce GTX1080 and GTX1070 flagship video cards
- ADATA releases the HD700 and HV620S external hard drives
- BIOSTAR teams up with Apacer and Thermaltake to showcase high-end gaming machines