Replies to post #42914 on Intel Corp (INTC)

[The Duke of URL]

some details:


Under terms of the agreement, STMicroelectronics will sell its flash memory assets, including its NAND joint venture stake, to the new company while Intel will sell its NOR assets and resources. NOR flash is a technology flash devices use to store and run code, usually in small capacities.

In exchange, Intel will receive a 45.1% stake in the new company and $432 million in cash. STMicroelectronics will own 48.6% of the new firm and receive $468 million in cash at closing. Francisco Partners, a Menlo Park, Calif.-based private equity firm, has agreed to invest $150 million in cash for convertible preferred stock representing a 6.3% stake.
...
Brian Harrison, current vice president and general manager of Intel's flash memory group, will become CEO of the new company, which will be headquartered in Switzerland. Mario Licciardello, current corporate vice president of ST's flash memories group, will become chief operating officer. The company will have nine main research and manufacturing locations around the world and about 8,000 employees.

http://www.cnbc.com/id/18799264

[Golfbum]

i wonder what happens to intel's flash fabs? weren't some of them collocated with other intel fabs?

gb

[jhalada]

wbmw,

Re: Flash -> HALLELUJAH! eom

It certainly leaves Intel much stronger in its core business.

Joe