Micron Pays $600M For Intel Flash Assets

Boise, Idaho-based Micron is paying approximately $600M to Intel, to acquire the stake in two of Intel's wafer factories developing NAND flash. The two announced the deal Tuesday, saying that the move would expand their NAND Flash memory joint venture relationship. Intel said that approximately half of the purchase price will be in cash, with the remainder to be deposited with Micron covering its future purchases of NAND Flash under the agreement. Micron said the buy includes the assets of IM Flash Singapore (IMFS) and IM Flash Technologies (IMFT) in Manassas, Virginia. Intel and Micron also said that the joint venture's current NAND Manufacturing facility in Lehi, Utah, will continue to operate, with minimal changes.