BEIJING, 13 OCTOBER 2008 - Micron Technology will buy Qimonda's stake in DRAM manufacturing joint venture Inotera memories for US$400 million in cash, Qimonda said Monday.
Idaho-based Micron will receive Qimonda's 35.6 percent stake in Inotera, a JV with Taiwan's Nanya Technology Corp., which currently manufactures 1G-byte DDR2 and 1G-byte DDR3 DRAM. The companies did not say when they expected the deal to close, but disclosed that Qimonda will receive two payments of $200 million, the second one coming when it receives final legal and regulatory approval.
Inotera has a capacity of 120,000, 300mm wafers per month at two fabs in Taiwan. Qimonda's share of Inotera's output will be ramped down over a period of eight months after the deal closes, the company said.
