Micron Technology Acquires Intel Shares IF Flash

Beijing time on October 19 morning news, MICRON TECHNOLOGY said on Thursday that the company plans to fully control IM Flash TECHNOLOGIES, the latter is a joint venture between Micron Technology and Intel Group in 2006 to invest 1.2 billion US dollars.
The transaction included a $1.5 billion cash payment and the acquisition of Intel’s debt to the joint venture, which was approximately $1 billion as of August 30.
IM Flash mainly produces 3D XPoint for data centers and high-end computers, and the joint venture has been incorporated into Micron’s financial statements.
In July, Micron Technology and Intel decided to discontinue the joint development of 3D XPoint technology and seek independent operations.
Micron Technology expects that the transaction will not affect its financial performance or change its capital expenditure in FY 2019.
Under the previous agreement, Micron will sell Intel a year of 3D XPoint memory wafers after the acquisition.
IM Flash will also become a wholly-owned subsidiary of Micron Technology after the transaction is completed.