Micron Buys Lexar For $688M

Boise, Idaho-based Micro has purchased Fremont-based Lexar Media, a provider of flash memory. The deal is worth $688M in a stock-for-stock merger. Micron said that the acquisition will strengthen the company's position in the NAND flash business. The two companies are among the two largest memories of flash memory, used in consumer products and the computer industry. Lexar is a manufacturer of flash memory, USB flash drives, card readers, and ATA controllers for the digital photography and consumer electronics market. Micron is one of the largest providers of DRAM, NAND flash, CMOS image sensors, and memory modules in the world.