Micron Technology buying Elpida for about $750M

Micron Technology buying Elpida for about $750M

Credit: AFP/Getty Images

Tainan, TAIWAN: An engineer of United Microelectronics Corp (UMC) checks a 12-inch wafer at a UMC wafer factory in Tainan Science Park, southern Taiwan, 28 April 2006. UMC, the world's second largest contract microchip maker, said 26 April its net earnings in the first quarter in 2006 rose sharply due to higher non-operating income. UMC is a world-leading semiconductor foundry, specializing in the contract manufacturing of customer designed ICs for high performance semiconductor applications. AFP PHOTO/Sam YEH (Photo credit should read SAM YEH/AFP/Getty Images)

Print
Email
|

KMOV.com

Posted on July 2, 2012 at 9:14 AM

   BOISE, Idaho (AP) -- Memory-chip maker Micron Technology Inc. has agreed to buy Elpida Memory Inc. for approximately $750 million in cash in a deal that would boost its wafer manufacturing capacity by about 50 percent.

   Elpida specializes in dynamic random access memory chips used in mobile phones and computers. It has been developing a plan of reorganization since filing for the largest manufacturing bankruptcy ever in Japan earlier this year.

   The companies said Monday that the total value of the deal is about $2.5 billion. That includes about $1.75 billion in future annual installment payments that Micron would make through 2019.

   Micron Technology shares rose 29 cents, or 4.6 percent, to $6.60 in premarket trading.
 

Print
Email
|