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Intel creates flash memory company

by Scott Bicheno on 31 March 2008, 10:11

Tags: Intel (NASDAQ:INTC)

Quick Link: HEXUS.net/qamf7

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Swiss flash

Numonyx, the new flash memory company created by Intel and Swiss semiconductor company ST Microelectronics, will ‘Deliver innovative, cost-effective non-volatile memory solutions.’ It will be headquartered in Switzerland.

Specifically, Numonyx will design, develop and manufacture NOR and NAND flash memory products. It will be 45.1 percent owned by Intel, which is chucking in some of its own NOR and phase-change assets, and 48.6 percent owned by ST Microelectronics.

Francisco Partners gets 6.3 percent of the company in exchange for $150 million in cash, valuing the company at $2.38 billion.

Intel estimates that it will record additional non-cash impairment of approximately $300 million (an amount it presumably regularly finds down the back of the sofa) related to the assets transferred to Numonyx and other costs associated with this transaction in the first quarter of 2008.

Approximately 2,500 Intel employees are joining Numonyx as part of this transaction.



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