Micron acquires Numonyx for $1.2billion

The deal has been struck to strengthen Micron's position in the memory sector, focusing on a portfolio of dram, nand and nor products. The company will also gain a global manufacturing scale and access to Numonyx' customer base. This could enable opportunities to increase its presence in the embedded and mobile markets. Steve Appleton, chairman and ceo of Numonyx, said: "Acquiring Numonyx brings together two memory leaders and positions Micron to offer the most comprehensive, cost competitive solutions in the industry to a broad range of customers and end markets." Brian Harrison, president and ceo of Numonyx, added: "We believe the opportunity for Numonyx to join with Micron will deliver a clear advantage for our customers and our employees. This announcement is a strong testimony to the value of Numonyx technologies, products and people. The result will be a strong company that can best serve our target market segments and customers by delivering enhanced memory solutions, strength and scale. It's good for Numonyx and good for Micron." The transaction is subject to regulatory review and other customary closing conditions and is anticipated to close within three to six months.