Micron Technology isacquiring Numonyx, one the largest makers of flash in the world.
The two companies have said they have reached an agreement in which Micron will acquire Numonyx in an all-stock transaction valued at about US$1.27 billion.
Intel and STMicroelectronics created Numonyx in 2008 and combined Intel’s NOR flash memory business and STMicro’s NAND flash business.
Micron is the US’ biggest memory-chip manufacturer. Numonyx, which is based in Geneva, is the world’s largest supplier of NOR flash, which has different applications than NAND flash, which Micron already manufactures. NAND is used for data storage in mobile devices such as Apple’s iPhone and iPad, while NOR has traditionally been used in mobile phones.
The transaction, expected to close within three to six months, is subject to regulatory review.