Intel & Micron Expand NAND Flash Memory Joint Venture
Intel and Micron have announced that they have entered into new agreements in order to further expand their joint venture “IM Flash Technologies”. The idea behind the new agreements is to further improve the flexibility and efficiency of said joint venture. The agreement has Intel selling off its stake in two wafer manufacturing plants for $600 million, $300 million will be paid to Intel in cash while the other half will remain with Micron. In response to this Micron will be supplying Intel with NAND flash memory and the $300 million they keep could possibly be applied to Intel’s future purchases as per the NAND flash supply agreement. The agreements will help further the companies’ NAND research and development efforts as it expands to include emerging technology. Micron will also further increase its NAND flash output by purchasing some assets of IM Flash Singapore and IM Flash Technologies thanks in part to the new agreements. The transaction should be completed sometime in the first half of this year.
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 20 nm NAND Flash memory technology. The transaction is expected to close during the first half of this year, subject to certain conditions.
Comments are closed.