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© Micron Business | January 15, 2019

Micron acquires remaining interest in IM Flash JV

Micron Technology announces that it is exercising its right to purchase Intel’s interest in the parties’ joint venture, IM Flash Technologies, (IM Flash).
The Boise-based company disclosed its intention to exercise the option back in October last year. “The IM Flash acquisition will enable Micron to accelerate our R&D and optimize our manufacturing plan for 3D XPoint,” says Micron Technology President and CEO Sanjay Mehrotra in a press release. “The Utah-based facility provides us with the manufacturing flexibility and highly skilled talent to drive 3D XPoint development and innovation, and to deliver on our emerging technology roadmap.” Micron doesn’t see that the pending acquisition will any meaningful impact on overall non-GAAP financial results and foresees no changes to the company’s fiscal 2019 capital expenditures or long-term capital expenditure target. The transaction will close on a date within the next six to 12 months to be selected by Intel. At the time of close, Micron expects to pay about USD 1.5 billion in cash for the transaction.
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February 20 2019 12:04 pm V12.2.3-1