Thursday, June 30, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Seagate To Axe 1,600 Employees
Major Windows 10 Anniversary Update Coming on August 2
AMD Launches the VR-ready Radeon RX 480 Graphics Card
Wi-Fi CERTIFIED ac Brings Advances in Wi-Fi Performance
Facebook Tries To Explain The Algorithm Behind News
KDDI, Google Complete 60-Terabit Trans-Pacific Cable
New Sony 4K Ultra HD TVs Released In The U.S.
Google Offers Users More Ways To Manage Ads
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Mobiles > Intel, ...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, May 23, 2007
Intel, STMicroelectronics And Francisco Partners Establish New Flash Memory Company


STMicroelectronics, Intel and Francisco Partners today announced they have entered into an agreement to create a new semiconductor company related to flash memory products.

The new company's strategic focus will be on supplying flash memory solutions for a variety of consumer and industrial devices, including cellular phones, MP3 players, digital cameras, computers and other high-tech equipment.

The new company will combine key research and development, manufacturing and sales and marketing assets of Intel and STMicroelectronics into a streamlined structure with the scale to produce cost-effective non-volatile memory solutions.

"The new company will be positioned to service customers with all of the elements necessary to deliver current and next-generation non-volatile memory technologies, while allowing ST to redefine its participation in flash memory," said Carlo Bozotti, STMicroelectronics president and CEO, and non-executive chairman designate of the new company.

"From the outset, the company will be a leading supplier of flash memory solutions for wireless communications," said Brian Harrison, named to become the CEO of the new company at the close of the transaction and currently vice president and general manager of Intel's Flash Memory Group. "We will be able to offer customers complete solutions with NOR- and NAND-based technologies, which we believe will provide significant opportunities for growth and the potential to develop products for many new application areas and geographic regions."

Under the terms of the agreement, STMicroelectronics will sell its flash memory assets, including its NAND joint venture interest and other NOR resources, to the new company while Intel will sell its NOR assets and resources. In exchange, Intel will receive a 45.1 percent equity ownership stake and a $432 million cash payment at close. STMicroelectronics will receive a 48.6 percent equity ownership stake and a $468 million cash payment at close. Francisco Partners L.P., a Menlo Park, Calif.-based private equity firm, will invest $150 million in cash for convertible preferred stock representing a 6.3 percent ownership interest, subject to adjustment in certain circumstances. Concurrently, the parties have arranged for the new company to receive firm commitments for a $1.3 billion term loan and $250 million revolver. The term loan will be underwritten by a consortium of banks. Proceeds from the term loan will be used for working capital and payment to Intel and STMicroelectronics for the purchase price. The transaction is subject to regulatory approvals and customary closing conditions and is expected to occur in the second half of 2007.

The new company will be headquartered in Switzerland and incorporated in the Netherlands with nine main research and manufacturing locations around the world and approximately 8,000 employees.

"With assets and resources from Intel and STMicroelectronics, including a patent portfolio of approximately 2,500 patents and 1000 patents pending, the new company will benefit from the increasing demand for memory resulting from the growing amount of information and content that is becoming more mobile and is now based almost entirely on digital technology, the companies said in a statement."


Previous
Next
Ritek to Start Mass Production of BD-RE, HD DVD-RW discs        All News        WD Ships 250 GB Hard Drive For Notebooks
NEC LCD Color TFT LCD Module With DRAM Embedded Onto Glass Substrate     Mobiles News      T-Mobile Wing Takes Flight

Get RSS feed Easy Print E-Mail this Message

Related News
Intel Could Sell Cyber-Security Unit
Intel Tries To Reverse $1.2 Billion Antitrust Fine at Top EU Court
Intel 72-core Xeon Phi Chip Challenges GPUs In Machine Learning Applications
iPhone 7 To Have Intel Chips Inside
Intel Custom Foundry Certifies Mentor Graphics Tools for 10nm Tri-Gate Process
New Intel Xeon Processor E7 v4 Family Delivers 24-core Horsepower For Real-Time Analytics
Computex: Intel Launches 10-core Core i7 Processor Extreme Edition And Xeon Processor E3-1500v5 Family
Sony Joins Forces with Cogitai to Conduct Research and Development for Artificial Intelligence
Brian Krzanich Outlines Intel's Future Strategy
Microsoft Positions Windows 10 As A Platform for the Intelligence Revolution
Intel To Axe 12,000 Jobs, Focuses On Cloud And Smart, Connected Computing Devicess
Intel Outlines Next Generation of Experiences At 2016 Intel Developers Forum Shenzhen

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .