Intel to sell two flash memory factories to Micron for $600 million

Semiconducter manufacturer Micron has agreed to a deal that will see it acquire Intel’s stake in two wafer factories for approximately $600 million. The two companies have been working together on producing NAND flash memory since 2006 with the IM flash Technologies partnership, and the announcement appears to indicate Intel’s move away from that deal, though statements from both companies suggest the opposite. Intel says that the news — which includes a new agreement that will see Micron continue to supply Intel with NAND flash products — will give it “better flexibility to meet growing demand for SSDs and other products” and also expands the agreement to include “emerging memory” in addition to flash. Half of the sum will be paid in cash, while the rest will be deposited with Micron and will either be refunded or used towards future purchases — the assets acquired by Micron are located in Singapore and Virginia, while Intel retains its stake in the IMFT facility in Utah.