Micron Ponies Up $1.27 Billion for Numonyx
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Micron is shelling out $1.27 billion for Numonyx, a joint venture of Intel and STMicroelectonics, to establish a foothold in the promising phase change memory market. Enterprise Storage Forum breaks down the acquisition and explains what it could mean for competitors such as Samsung, Toshiba and Hynix.
Micron Technology (NASDAQ: MU) is acquiring Numonyx, giving the memory chip giant a stake in the promising market for phase change memory.
Micron will pay about $1.27 billion in stock for Numonyx, a joint venture of Intel (NASDAQ: INTC) and STMicroelectronics. The deal also gives the DRAM and NAND maker added presence in the markets for RAM, NOR and NAND flash memory, the technology underpinning solid state drives (SSDs) and other devices.
Micron will also be better positioned to compete against flash makers Samsung, Toshiba and Hynix.
Micron said the deal gives it added manufacturing scale and access to Numonyx's customer base, "providing significant opportunities to increase multi-chip offerings in the embedded and mobile markets."
Numonyx CEO Brian Harrison said the result of the merger will be "a strong company that can best serve our target market segments and customers by delivering enhanced memory solutions, strength and scale. It is good for Numonyx and good for Micron."