Micron and Intel Agree to Put in More than $3.8B in Flash Technology
February 27, 2006 8:14 PM
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IM Flash Technologies LLC will be a joint venture between Micron and Intel
Intel and Micron have entered a deal where both have agreed to contribute over $1.2B each to create a company called IM Flash Technologies LLC. In the deal, Micron also agreed to sell its NAND flash and chip division along with associated intellectual properties to Intel for $270 million.
In the deal,
Micron will hold 51% control
over the joint venture with Intel on the balance. The new company will develop and produce flash memory technologies based on designs by Intel. The two companies said that each have agreed to also invest a combined total of $1.4B over the next three years. With consumer electronics sky rocketing in sales and mainstream acceptance, flash memory continues to be a strong cash cow for many companies.
So far Intel has paid over $1.96B in cash to the project, which will be located at Micron's own production and development facilities in Boise, Idaho, Manassas, Va. and Lehi, Utah.
This article is over a month old, voting and posting comments is disabled
2/28/2006 2:19:06 AM
Wow....all that money being invested into an American company using facilities on American soil?? Unheard of!!
I rarely say this, but props to Intel.
2/27/2006 8:28:51 PM
All the money they waste, they should just give it to me.
2/27/2006 9:39:50 PM
It is not gonna happen :-) But the money they wasted could save you a few bucks next time when you buy a flash device
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