Intel-ST flash joint venture christened 'Numonyx'

Intel Corp., STMicroelectronics and Francisco Partners have unveiled a name for the flash memory joint venture formed by Intel and ST in May—Numonyx.

Playing off the word "mnemonics," meaning the art of assisting or improving memory, Numonyx is expected to complete its transaction, subject to regulatory approvals and customary closing conditions, in 2H 2007. The new company will have its headquarters in Switzerland.

"We want the industry to see that we are already hard at work to create a significant, agile and energetic new company and what better way to convey that than to give it a name," said Brian Harrison, VP and general manager of Intel's flash memory group and CEO-designate for Numonyx. "We are proceeding to our original timeframes and will be excited when we can officially launch the new company to our customers later this year."

"Announcing our name allows us to begin developing an independent identity that customers and employees will recognize as a leader in innovative and cost-effective system-level memory solutions," said Mario Licciardello, corporate VP and general manager of STMicroelectronics' flash memories group and COO-designate for Numonyx. "While we are progressing in achieving regulatory approvals, planting the Numonyx flag establishes an important milestone for the company."