Micron Closing Numonyx Acquisition

Micron Technology, Inc. has completed its acquisition of Numonyx B.V. in an all stock transaction valued at approximately $1.2 billion USD. Under the agreement, Micron issued approximately 138 million shares of Micron common stock to Numonyx shareholders, Intel, STMicroelectronics, N.V. and Francisco Partners, and assumed outstanding restricted stock units held by Numonyx employees.

"With this acquisition, Micron builds on its position as one of the world’s leading memory companies with increased scale, a broader product portfolio and industry-leading technology," said Steve Appleton, Chairman and CEO of Micron.

The transaction further strengthens Micron’s broad portfolio of DRAM, NAND and NOR memory products and strong expertise in developing and supporting memory system solutions. Micron also gains increased manufacturing and revenue scale along with access to Numonyx’s customer base, providing significant opportunities to increase multi-chip offerings in the embedded and mobile markets.

As of Dec. 31, 2009, Numonyx reported net assets of $1.3 billion and cash and cash equivalents, net of debt to unrelated parties of $70 million. In the fourth calendar quarter, Numonyx generated $42 million in free cash flow based on quarterly revenues of approximately $550 million.