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Intel, Micron expand NAND flash venture

Posted: 01 Mar 2012 ?? ?Print Version ?Bookmark and Share

Keywords:NAND flash? joint venture? supply agreement?

Intel Corp. and Micron Technology Inc. have updated the terms of their prior deal as regards their NAND flash memory joint venture. The contract now includes a NAND flash supply agreement for Micron to supply NAND products to Intel and for certain joint venture assets to be sold to Micron. It also extends the companies' NAND flash joint development to include emerging memory technologies.

Under the terms of the agreement, Intel is selling its stake in two wafer factories in exchange for about $600 millionthe estimated book value of Intel's share. Additionally, Intel will be receiving nearly 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.

"Micron's joint venture NAND development efforts with Intel are a model of innovation, productivity and effectiveness," indicated Micron CEO 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?m 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," noted Robert Crooke, corporate VP and GM of the non-volatile memory solutions group at 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.

Micron has also agreed to supply Intel with NAND flash memory from its facilities. The IMFT joint venture NAND manufacturing facility in will continue to operate with minimal changes to its existing operations. The facility is currently in production on the companies' 20nm NAND flash memory technology. The transaction is expected to close during the first half of this year, subject to certain conditions.

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