Micron Buys Qimonda JV Stake for $400M

Steven Schwankert, IDG News Service

Sunday, October 12, 2008 10:20 PM PDT

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.

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