Sunday, March 29, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Microsoft Lists Windows 10-Compatible Phones
Intel in Talks to buy Altera: report
MediaTek Releases New High-end Smartphone Helio SoC
Google To Get Into The Operating Room
Data Requests To Microsoft Decreased
Google Defeated in English Court - Decision Opens Door for Litigation by Millions of British Apple Users
LG G4 Smartphone Coming Late April
BlackBerry Posts Quarterly Profit
Active Discussions
how to copy and move data files to dvd-rw
cdrw trouble
Need serious help!!!!
burning
nvidia 6200 review
Hello
Burning Multimedia in track 0
I'm lazy. Please help.
 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 in Talks to buy Altera: report
Intel Lowers First-quarter Revenue Forecast Amid Slow PC Demand
Intel Introduces New Xeon Processor D-1500 Product Family
Intel Outlines 2015 Gaming News at GDC
MWC: Intel Launches New Mobile SoCs, LTE Solution
Intel Introduces New Brand Levels for the Intel Atom Processor
Intel's 'Skylake' Chips Coming This Year
Intel Buys IoT Chip Maker Lantiq
Intel 5th Generation vPro Processors Released
Intel Releases New 20nm SSDs For Data Centers
Latest Intel Graphic Driver Adds Support For 4K, VP9 Video Playback
Intel Reports Revenue Jump

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .