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Intel fetches up to $1.5 billion for its IM Flash stake

Posted on Friday, May 10 2019 @ 10:47:35 CEST by

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A new corporate filing from Micron reveals the memory maker will pay Intel between $1.3 billion and $1.5 billion for the chip giant's stake in the IM Flash joint-venture. The deal is expected to close by the end of October. Micron already owns 51 percent of the joint-venture and will receive full ownership over the Lehi, Utah that makes 3D XPoint memory.
Financially, most of the $1.3 billion plus price tag for Intel's stake is not for the business itself, but is for the IMFT member debt owed to Intel ($1 billion as of February 28, 2019), which means the business is only being valued at around $300 million to $500 million. Meanwhile, along with acquiring complete ownership of IMFT once the deal closes, Micron reports that the company will also recognize a financial gain of about $100 million.
Intel is working on its own 3D XPoint memory production capacity, so it will not have to rely on Micron. This will take some time so Intel will continue to buy 3D XPoint chips from Micron until at least mid-2020.

Via: AnandTech



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